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Audit Norms Circular 1999

Office of The Registrar: Cooperative Societies: Govt. of NCT of Delhi
Old Court's Building, Parliament Street, New Delhi -110001.

No. Car(Audit)/251 Dated:31.3.1999


In order to ensure that the audit of the cooperative societies are completed on priority, it has been decided as under:­

1.The Department is empanelling the CAS/Auditors, Firms of CAs/Auditors for this purpose. The empanelment list will be notified in the 1st Week of April, 1999.

2.Each Society shall intimate to this office in writing by 3 0-6-1999, the details of its turnover, the name and address of the CA/Auditor selected by them out of the notified panel of the department.

3.The Society shall adhere to the following norms while selecting the CA/Auditor.

The society shall obtain Option Form cum Appointment letter of the CA/Auditor, Departmental Auditors alongwith instructions from this office on payment of Rs.50/- only. The society shall send Option form cum appointment letter after obtaining consent and acceptance of CA/Auditor, to this office for approval of the Registrar, Cooperative Societies. In case where the Audit is pending prior to 1996-97, approval of the RCS will have to be obtainedbefore submitting option cum appointment letter.

Norms for opting the category of CA Auditor according to the turnover of the society are fixed as under:­

A. (Four FCAs + more than ten years standing of the firm)

B. (Three FCAs more than ten years of the firm and left out of A) Below Rs.5 Crores

C. (Two FCAs + more than 10 years standingof the firm & left out of B) Below Rs.3 Crores

D. (All remaining FCA firms) Below Rs.2 Crores

E. (All ACAs) Below Rs.50 Lacs.

Note:- The accounts of the societies whose turnover is upto Rs.3 Lacs except the societies categorised under Industrial and Package units whose turnover is upto Rs. 15 Lakhs will be audited by he Departmental Auditors.

No Society will get its accounts audited from the CA/Auditors of lower category. Such Audit Reports if any, will not be accepted by this Department and no audit fee will be paid by the society.

Every CA firm/Auditor may conduct the audit upto five societies in a financial year. Further, no CA/Auditor shall audit a society for more than five years without permission of Registrar, Cooperative Societies in writing.

(Gopal Dikshit)
Registrar Coop. Societies

Last Updated Date :- 22-06-2018

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