(1) The accounts of every registered co-operative society and cooperative society under liquidation shall be audited or cause to be audited once at least in each financial year.
(2) The Registrar may, keeping in view the annual business turnover . of the co-operative societies authorize or appoint a Chartered Accountant by Special order in writing on his behalf to audit the accounts of any cooperative society or class of cooperative societies;
(3) The Registrar or the person authorized by him on his behalf shall at all reasonable times have free access to the books, accounts, documents, securities, cash and other properties belonging to or in the custody of the co-operative society and may summon any person in possession or responsible for custody of any such books, accounts, documents, securities, cash or other properties to produce the same and furnish such information in regard to the transaction and working of the co-operative society at the headquarters of the co-operative society or any branch thereof by the same means and, so far as may be in the same manner and spirit as provided in the Code of Civil Procedure, 1908.
(4) The accounts of every registered co-operative society shall be audited within six months of the close of financial year to which such accounts relate.
(5) In respect of every audit of the accounts, a registered cooperative society shall pay such audit fee as may be prescribed and such fee shall be deemed to be outstanding dues from the cooperative society.
(6) If it appears to the Registrar or on application by a cooperative society or otherwise that it is necessary or expedient to reaudit any accounts of the co-operative society, the Registrar may by order provide for 'such re-audit and the provisions of this Act applicable to audit of accounts of the society shall apply to such reaudit.
(2) The Registrar may, keeping in view the annual business turnover . of the co-operative societies authorize or appoint a Chartered Accountant by Special order in writing on his behalf to audit the accounts of any cooperative society or class of cooperative societies;
(3) The Registrar or the person authorized by him on his behalf shall at all reasonable times have free access to the books, accounts, documents, securities, cash and other properties belonging to or in the custody of the co-operative society and may summon any person in possession or responsible for custody of any such books, accounts, documents, securities, cash or other properties to produce the same and furnish such information in regard to the transaction and working of the co-operative society at the headquarters of the co-operative society or any branch thereof by the same means and, so far as may be in the same manner and spirit as provided in the Code of Civil Procedure, 1908.
(4) The accounts of every registered co-operative society shall be audited within six months of the close of financial year to which such accounts relate.
(5) In respect of every audit of the accounts, a registered cooperative society shall pay such audit fee as may be prescribed and such fee shall be deemed to be outstanding dues from the cooperative society.
(6) If it appears to the Registrar or on application by a cooperative society or otherwise that it is necessary or expedient to reaudit any accounts of the co-operative society, the Registrar may by order provide for 'such re-audit and the provisions of this Act applicable to audit of accounts of the society shall apply to such reaudit.
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More sections of this act
Section 1 · Short title,extent and commencementSection 2 · DefinitionsSection 3 · The Registrar.Section 4 · Co-operative Societies which may be registered.Section 5 · Age, qualification of a member.Section 6 · Conditions of registration.Section 7 · Restrictions on acquisition of Share in a Cooperative Society.Section 8 · Power of Registrar to decide certain questions.India Code, Government of India. Text fetched 10 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.