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Submission of Audit Report to Financing institution by auditor

Registrar Cooperative Societies (Delhi Admn.)
Court's Building, Parliament Street,
New Delhi-l10001 

F No. 1O1/MISC./A/COOp./Audit/5331 Dated:17.9.1985

Office Memorandum

In order to streamlines the audit of Cooperative Group Housing Societies, their audit has been allotted, on quaterly basis till the project is completed. Societies raise finance for their projects from financial institutions like Delhi Cooperative Housing Finance Society Ltd. (DCHFS), Housing Development Finance Corporation, (HLJDCO), Banks etc. and these institutions are vitally interested to keep track on the proper use and application of their funds by the borrowing societies. In view of this it has now been decided that all the Chartered Accountants who have been allotted audit of Cooperative Group Housing Societies under Section 53 of Delhi L.c’operative Societies Act, 1972, should send a copy of their audit report (annual and concurrent quarterly) to the financing institution directly where the construction activity has started and Society has raised loan till full and final repayment of loan with immediate effect. Further, for one reason or another if audit of a society is being delayed, this fact should iryiariable be brought to notice of this office and a copy be sent to the Financing institutions to enable the Department to take corrective steps in time.

Yours faithfully

(Sanat Kaul)
Cooperative Societies, Delhi Admn.


Last Updated Date :- 22-06-2018

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