Appointment of Auditor in AGM only

-
October 2, 2019

The Secretary,
Saket CHS LTD
Thane West

Dear Sir,

FAQs on Appointment of Auditor of a Cooperative Society
1. Which sections and rules govern the appointment of statutory auditor of a Co op. Society?
Ans: Sec.75 (2A), Sec.81 and Rule 69 of Maharashtra Co op. Societies Act, 1960 and MCS Rules, 1961
governs the appointment of Statutory Auditor.
2. Who can be appointed as Statutory Auditor of the co op. society?
Ans: Only A Panel Auditor or Auditing firm can be appointed as Statutory Auditor of the co op
society.
3. Who should appoint the Statutory Auditor?
Ans: As per Sec.75 (2A), the Statutory Auditor should be appointed in Annual General Meeting, i.e.
by General Body only.
4. Can Managing Committee or Board appoint the Statutory Auditor?
Ans: No, only General Body can appoint.
5. For how many years Statutory Auditor can be appointed?
Ans: The Statutory Auditor needs to be appointed for the " current financial year" only in terms of
Sec.75(2A) of the amended Act .
6. For how many years the same statutory auditor can be appointed by the co op society?
Ans: The co op society can appoint the same auditor for maximum three consecutive years.
7. Whether the continuing auditor is required to be reappointed every year?
Ans: Yes, Sec.75 (2A) clearly mentions that auditor will be appointed for current financial year and
hence the same auditor can be appointed for consecutive 3 years subject to his re appointment every
year in the AGM.
8.  Can society appoint the auditor for its pending audits?
Ans : No, the provision of pending audits by the same auditor is now deleted in the amended Act
and for pending audits society will have to write to the Registrar who will be appointing the auditor
for pending audits.

I hope that you will realize that how due to your lack of knowledge and incompetency, you have goofed up on the subject.

Comments

Post a Comment

Popular posts from this blog

Code of Conduct for Repairs and Renovation of Members Flats in Saket CHSL.

-
Code of Conduct for Repairs and Renovation of Members Flats in Saket CHSL. Dear Member, You may be aware that a large number of flats in the society are undergoing Repairs and Renovation at any point of time, which are carried out many times without proper permission from the society. Over the years, these rampant and extensive repairs have resulted in: 1.     Altering the elevation of the building. 2.     Altering the original plan of the flat. 3.     Damaging the building structure. 4.     Inconveniencing the neighbors. Your Committee is in the process of obtaining Occupation Certificate (OC) from the Thane Municipal Corporation and any such flats who have altered from the basic plan may not be given OC by the TMC – and the society wont be able to do anything in this regard. For your information, i f member wants to do internal structural changes in his flat, he has to obtain approval from Municipal Corpor...
Read more

Society cannot charge or demand money / donation for the Cultural/Festival Expenses from their members/residents.

-
23/10/2017 Dear Saketians, Read the following carefully. It is going to have a impact on our society from now on. Post the 2014 amendments to the byelaws, Society cannot charge or demand money / donation for the Cultural/Festival Expenses from their members/residents.  The Society cannot implement such Resolution in AGM / SGM and put burden of contributing any money on all the members including the members who are not interested to participate, even though such Resolutions are passed. For Social, Cultural or Recreational activities; Society should use the Reserve Fund as described in Byelaw 147(b)iii, iv and utilise it as indicated in Byelaw 5(d). Byelaw 147(a) After providing for the interest upon any loans and deposits and after making such other deductions as required under Section 65(1) and 66 of the MCS Act 1960 and Rule 49A of MCS Rules 1961, twenty five percent (25%) of the net profit of all the business carried on by or on account of the Society, shall...
Read more

Introduction to the concept of Antyodaya of Pandit Deendayal Upadhyay

-
Image
Dear Friend, The BJP is currently conducting a " Vistarak Yojana" - introduction / spread of the party's ideology to the people. Through personal contact, door to door campaign, letters, mails and meetings, party leaders, office bearers and karyakartas are contacting people on occasion of the party ideologue Pandit Deendayal Upadhyay ji's  birth centenary celebrations. This letter is a part of that endeavor. Introduction: Pandit Deendayalji  Upadhyay was the leader of the Bharatiya Jana Sangh from 1953 to 1968. A profound philosopher, organiser par excellence and a leader who maintained the highest standards of personal integrity, he has been the source of ideological guidance and moral inspiration for the BJP since its inception. His treatise Integral Humanism, which is a critique of both communism and capitalism, provides a holistic alternative perspective for political action and statecraft consistent with the laws of Creation and the universal needs of...
Read more