Appointment of Auditor in AGM only

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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.

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