Special auditing of co-operative housing society accounts

Dr Mahesh (Querist) 04 June 2013 This query is : Resolved
The General body of a cooperative housing society has decided to go for special auditing of its annual accounts for financial years 9 - 10 and 10 - 11 to ascertain the misappropriation of funds.

What is the right procedure to proceed forward?
Is registrar of cooperative involved in the appointing a auditor for special audit?

Please advice so that we follow a right procedure

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ajay sethi (Expert) 04 June 2013
accounts of cooperative society are required to be audited every year . the society appoints an auditor after approval from AGM and the auditor then audits accounts for every finacial year .

you have not mentioned whether in case of your society afroesaid procedure was followed or not . had it been misappropriation of funds would have come to light

R.K Nanda (Expert) 04 June 2013
contact auditor.

Guest (Expert) 06 June 2013
On apprehension of any instance of miappropriation, special audit can be made possible by reporting the matter to the Registrar of Cooperative Societies. It will be better if a resolution to that effect is placed before the AGM for passing.

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