59[(1) Every society shall prepare and maintain its accounts of each
financial year in the prescribed form and manner.
60[(2) Every society shall cause its accounts to be audited by an auditor or auditing firm appointed by the committee of the society from amongst the panel approved under sub-section (4):
Provided that where the committee of the society fails to appoint an auditor or auditing firm within the time stipulated therefor, the Registrar may appoint an auditor or auditing firm for the audit of the society from the panel approved under sub-section (4):
Provided further that no auditor or auditing firm shall be appointed for the audit of the accounts of the society for more than two years in continuation:
Provided also that the Registrar may, by an order, appoint an auditor(s) or auditing firm(s) to cause accounts of a society or a class of societies to be audited for a particular period, which shall be binding on the society or the class of societies, as the case may be.] (3) The accounts of every society shall be audited within six months of the close of the financial year to which such accounts relate.
(4) For the purposes of sub-section (2), the Registrar shall prepare, approve and notify a panel, in the prescribed manner, of eligible auditors and auditing firms.
(5) Following shall be the minimum qualification and experience for auditors and auditing firms that shall be eligible for auditing accounts of the societies, namely:-
(a) in case of an auditor, -
(i) he must be a Chartered Accountant as defined in the Chartered Accountants Act, 1949 (Central Act No. 38 of 1949) and should have at least three years postqualification experience of auditing accounts; or
61[(ii) he must be a person in service of the Co-operative Department of the Government of Rajasthan, not below the rank of an Inspector, and]
(b) in case of an auditing firm, it must be a firm of Chartered Accountants as defined in the Chartered Accountants Act, 1949 (Central Act No. 38 of 1949) and should have at least three years experience of auditing accounts.
(6) Cost of the audit shall be decided and paid by the cooperative society concerned:
61[Provided that the fee of the auditors referred to in sub-clause (ii) of clause (a) of sub-section (5) and the auditor(s) appointed by the Registrar under the sub-section (2) shall be prescribed by the State Government.]
(7) The society shall render, to the auditor or, as the case may be, auditing firm, access to all the books, accounts, documents, papers, securities, cash and other properties belonging to the society.
(8) Every person, who is, or has at any time been, an officer or an employee or an agent of the society and every member and past member of the society shall furnish such information in regard to the transactions and working of the society as the auditor or, as the case may be, auditing firm may require.
(9) The auditor or, as the case may be, auditing firm shall have the right to receive all notices, and every communication relating to the annual general meeting of the society and to attend such meeting and to be heard thereat.
62[(10) The auditor or, as the case may be, auditing firm shall prepare audit report in the Proforma prescribed by the Registrar and submit the audit report to the society and also to the Registrar.]
(11) The auditor or, as the case may be, auditing firm auditing the accounts of a short term co-operative credit structure society shall endorse a copy of the audit report to the Reserve Bank of India, the National Bank and the Registrar.
62[(12)If it comes to the knowledge of the Registrar that, prima facie, any financial irregularity has occurred in a society, the Registrar may get a special audit of the society conducted for the period during which such irregularity is believed to have taken place:
Provided that the Registrar shall ensure conduct of special audit of the Rajasthan State Co-operative Bank or a Central Co-operative Bank, if requested by the Reserve Bank of India, in the manner and form stipulated by the Reserve Bank of India within the time stipulated.]
(13) The society shall send a copy of the audit report along with compliance thereof 63[in the prescribed manner] after consideration and approval of the same by the General Body of the society to the Registrar and to its affiliating society, if any.
(14) The Registrar shall submit to the State Government the audit report of the accounts of the Apex Co-operative Society and the State Government shall cause such report to be laid before the State Legislature.
(15) If the State Legislature resolves to make any direction or recommendation on the audit report laid before it, the society shall, as soon as possible, comply with the directions or, as the case may be, recommendations.
60[(2) Every society shall cause its accounts to be audited by an auditor or auditing firm appointed by the committee of the society from amongst the panel approved under sub-section (4):
Provided that where the committee of the society fails to appoint an auditor or auditing firm within the time stipulated therefor, the Registrar may appoint an auditor or auditing firm for the audit of the society from the panel approved under sub-section (4):
Provided further that no auditor or auditing firm shall be appointed for the audit of the accounts of the society for more than two years in continuation:
Provided also that the Registrar may, by an order, appoint an auditor(s) or auditing firm(s) to cause accounts of a society or a class of societies to be audited for a particular period, which shall be binding on the society or the class of societies, as the case may be.] (3) The accounts of every society shall be audited within six months of the close of the financial year to which such accounts relate.
(4) For the purposes of sub-section (2), the Registrar shall prepare, approve and notify a panel, in the prescribed manner, of eligible auditors and auditing firms.
(5) Following shall be the minimum qualification and experience for auditors and auditing firms that shall be eligible for auditing accounts of the societies, namely:-
(a) in case of an auditor, -
(i) he must be a Chartered Accountant as defined in the Chartered Accountants Act, 1949 (Central Act No. 38 of 1949) and should have at least three years postqualification experience of auditing accounts; or
61[(ii) he must be a person in service of the Co-operative Department of the Government of Rajasthan, not below the rank of an Inspector, and]
(b) in case of an auditing firm, it must be a firm of Chartered Accountants as defined in the Chartered Accountants Act, 1949 (Central Act No. 38 of 1949) and should have at least three years experience of auditing accounts.
(6) Cost of the audit shall be decided and paid by the cooperative society concerned:
61[Provided that the fee of the auditors referred to in sub-clause (ii) of clause (a) of sub-section (5) and the auditor(s) appointed by the Registrar under the sub-section (2) shall be prescribed by the State Government.]
(7) The society shall render, to the auditor or, as the case may be, auditing firm, access to all the books, accounts, documents, papers, securities, cash and other properties belonging to the society.
(8) Every person, who is, or has at any time been, an officer or an employee or an agent of the society and every member and past member of the society shall furnish such information in regard to the transactions and working of the society as the auditor or, as the case may be, auditing firm may require.
(9) The auditor or, as the case may be, auditing firm shall have the right to receive all notices, and every communication relating to the annual general meeting of the society and to attend such meeting and to be heard thereat.
62[(10) The auditor or, as the case may be, auditing firm shall prepare audit report in the Proforma prescribed by the Registrar and submit the audit report to the society and also to the Registrar.]
(11) The auditor or, as the case may be, auditing firm auditing the accounts of a short term co-operative credit structure society shall endorse a copy of the audit report to the Reserve Bank of India, the National Bank and the Registrar.
62[(12)If it comes to the knowledge of the Registrar that, prima facie, any financial irregularity has occurred in a society, the Registrar may get a special audit of the society conducted for the period during which such irregularity is believed to have taken place:
Provided that the Registrar shall ensure conduct of special audit of the Rajasthan State Co-operative Bank or a Central Co-operative Bank, if requested by the Reserve Bank of India, in the manner and form stipulated by the Reserve Bank of India within the time stipulated.]
(13) The society shall send a copy of the audit report along with compliance thereof 63[in the prescribed manner] after consideration and approval of the same by the General Body of the society to the Registrar and to its affiliating society, if any.
(14) The Registrar shall submit to the State Government the audit report of the accounts of the Apex Co-operative Society and the State Government shall cause such report to be laid before the State Legislature.
(15) If the State Legislature resolves to make any direction or recommendation on the audit report laid before it, the society shall, as soon as possible, comply with the directions or, as the case may be, recommendations.
59 Substituted by Act no. 17 of 2013 (w.e.f. 24.4.2013).
60 Substituted by Act no. 7 of 2016 (w.e.f. 4.4.2016).
61 Substituted by Act no. 7 of 2016 (w.e.f. 4.4.2016).
62 Substituted by Act no. 7 of 2016 (w.e.f. 4.4.2016).
63 Inserted byAct No.7 of 2016 (w.e.f.4.4.2016).