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Order for revision of Audit fee

Office of The Registrar of Cooperative Societies 
Govt. of NCT of Delhi
Old Court's Building, Parliament Street, New Delhi –110 001

NO. F.101/35/Misc/Audit/Coop./952-956 Date : 04-12-2001

Order

In pursuance of power conferred under Rule 85 of Delhi Cooperative Societies Rules,1973 and in super session of previous order, I, N.DIWAKAR Registrar of Cooperative Societies, Delhi do hereby lay down the following scales of Audit fees payable to Chartered Accountants in respect of Cooperative Societies registered under the Delhi Cooperative Societies Act, 1972.

Audit Fee Norms in Respect of Urban Coop. Thrift & Credit Societies and Banks

For first 5 lakhs of working capital Rs. 4.00 per 1000
For first 10 lakhs of working capital Rs. 3.00 per 1000
For first 15 lakhs of working capital Rs. 2.00 per 1000
For first 20 lakhs of working capital Rs. 1.00 per 1000
For first 50 lakhs of working capital and above Rs. 0.50 per 1000

Audit Fee Norms in Respect of Consumer Coop. Stores

For first 5 lakhs of sales Rs. 4.00 per 1000
For first 10 lakhs of sales Rs. 3.00 per 1000
For first 15 lakhs of sales Rs. 2.00 per 1000
For first 20 lakhs of sales Rs. 1.00 per 1000
For first 50 lakhs of sales & above Rs. 0.50 per 1000

Audit Fee Norms in Respect of Other Societies Such as Housing, Industrial, Credit and Non-Credit Societies etc,

For first 5 lakhs of turnover Rs. 3.00 per 1000
For first 10 lakhs of turnover Rs. 2.00 per 1000
For first 15 lakhs of turnover Rs. 1.00 per 1000
For first 20 lakhs of turnover & above Rs. 0.50 per 1000

This minimum Audit fee shall be Rs. 2,250 /- and the maximum Rs. 1 lakh for Coop. Banks, Delhi Coop. Housing Finance Corporation Ltd. and Delhi Consumer Coop. Wholesale Stores ltd. and Rs. 70,000 /- on all types of Primary Coop. Societies. Besides this ;

i. No separate fee will be given for branches.
ii. 33% of total Audit fee shall also be paid in those cases where Concurrent Audit is allotted and conducted by the Auditors.
iii. Further 25% of the total Audit fee will be paid in those cases where tax Audit is involved subjected to a minimum of Rs. 3,500 /- and maximum Rs. 10,000.

Explanation:

Turnover: it means the total receipts or total disbursement of the year whichever is higher after excluding the deposits, withdrawals from banks and also opening and closing cash in hands.

Working Capital: it includes such portion of Reserve Funds and other Reserves apportioned out of the profit, paid-up the share capital, loan and deposits received and debentures issued by a Cooperative Society as have not been locked up in building and other fixed assets.

This supercedes all previous order on subject. The above scales of Audit fee are applicable with immediate effect and will be paid by the concerned Society on approval from this office.

Sd-
(N.Diwakar)
Registrar Cooperative Societies
Delhi

NO. F.101/35/Misc/Audit/Coop./952-956 Date : 04-12-2001

Copy to :-

1. All concerned Coop. Societies through Shekari Magazine.
2. All concerned Auditors.
3. The Chief Executive Officer Delhi State Coop. Union, 31 , Netai Subash Marg, New Delhi.
4. All the Officers of the Department.
5. Guard file Audit section. 

Sd-
(N.Diwakar)
Registrar Cooperative Societies
Delhi

Last Updated Date :- 01-04-2019

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