Instructions for filling Application for Empanelment of Auditor for Audit of Cooperative Societies
The 97th Amendment to the Constitution of India has made Annual Audit of every Cooperative Society mandatory. The power to appoint an auditor for conducting the said audit vests in the General Body of the society. The Section 81 of Maharashtra Cooperative Societies Act 1960 has accordingly been amended and the relevant extract of the Section is enclosed herewith for favour of ready reference. Accordingly the Government proposes to prepare a panel of auditors as envisaged in the amended Act and for this empanelment of auditors, following instructions are being issued.
1) The eligibility criteria based on the qualification and experience of the auditor for applying is mentioned in the column no. 3 of the classification statement of societies, as enclosed herewith.
2) In case of partnership firm of Chartered Accountant, if the partnership firm has applied for empanelment, none of the partners of the firm can apply for empanelment in his individual capacity. So also, in case of partnership firm having one or more common partners, any one partnership firm can only apply for empanelment.
3) The applications duly filled in should reach the office of the concerned District Deputy Registrar office, prior to 21st of March 2013, within office hours.
4) Persons retired from the Audit wing of Government Department and working as certified auditor, willing to apply for empanelment, should submit, first page of their service book and experience certificate from the office they retired.
5) For essential knowledge of Marathi language, the persons applying shall submit relevant proof of Marathi language, as recorded in their SSC/ HSC certificate. For CA. firm the certificates of any one partner shall be enclosed.
6) The documents shall be submitted in Xerox copies duly attested, no original copies shall be sent. The original copies may be verified, if required, before finalization of draft list.
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Relevant extract of Section 81 of Maharashtra Co-Operative Societies Act 1960
CHAPTER VIII
AUDIT, INQUIRY, INSPECTION AND SUPERVISION
81. Audit.—
(1) (a) The society shall cause to be audited its accounts at least once in each financial year and also cause it to be completed within a period of six months from the close of financial year to which such accounts relate and in any case before issuance of notice of the holding of annual general body meeting, by auditor or auditing firm from a panel prepared by the Registrar and approved by the State Government or an authority authorised by it in this behalf, possessing required qualifications and experience as may be prescribed to be eligible for auditing accounts of societies, appointed by the general body of a society, as provided in sub – section (2A) of section 75 and shall lay such audit report before the annual general body meeting. In case of apex society, the audit report shall also be laid before both Houses of the State Legislature, in such manner, as may be prescribed:
Provided that, if the Registrar is satisfied that the society has failed to intimate and file the return as provided by sub – section (2A) of section 75 and sub-section (1B) of section 79, by order, for the reasons to be recorded in writing, he may cause its accounts to be audited, by an auditor from the panel of the auditors approved by the State Government or an authority authorised by it in this behalf:
Provided further that, no auditor shall accept audit of more than twenty societies for audit in a financial year excluding societies having paid up share capital of less than rupees one lakh:
Provided also that, the Registrar shall maintain a panel of auditors and auditing firms as approved by the State Government or an authority authorised by it in this behalf;
(b) the manner of preparation, declaration and maintenance of the panel of auditors and auditing firms by the Registrar shall be such as may be prescribed;
(c) the board of every society shall ensure that the annual financial statements like the receipts and payments or income and expenditure, profit and loss and the balance-sheet along with such schedules and other statements are audited, within the prescribed period;
(d) The Registrar shall submit the audit report of every apex co-operative society to the State Government annually for being laid before the both Houses of the State Legislature in the manner prescribed;
(e) The auditor’s report shall have,-
(i) all particulars of the defects or the irregularities observed in audit and in case of financial irregularities and misappropriation or embezzlement of funds or fraud, the auditor or the auditing firm shall investigate and report the modus operandi, the entrustment, amount involved, and fix the responsibility for such misappropriation or embezzlement of funds or fraud, on the members of the committee or the employees of the society or any other person, as the case may be, with all necessary evidence;
(ii) accounting irregularities and their implications on the financial statements
to be indicated in detail in the report with the corresponding effects on the profit and loss;
(iii) the functioning of the committee and sub-committees of the societies be checked and if any irregularities or violation are observed or reported, duly fixing the responsibilities for such irregularities or violations;
(f) the remuneration of the auditor or auditing firm of a society shall be borne by the
society and shall be at such rate as may be fixed by general body of the society;
(g) the Registrar shall maintain the list of societies district-wise, the list of working
societies, the list of societies whose accounts are audited, the list of societies whose accounts are not audited within the prescribed time and reasons therefor. The Registrar shall co-ordinate with the societies and the auditors or auditing firms and ensure the completion of audit of accounts of all the co-operative societies in time every year. Explanation-I.- For the purposes of this section, the expression, “possessing required qualifications ” for being included in the panel duly approved by the State Government or an authority authorised by the State Government in this behalf, from time to time shall, mean and include –
(a) a person who is a Chartered Accountant within the meaning of the Chartered Accountants Act, 1949, who has a fair knowledge of the functioning of the Societies and an experience of atleast three years in auditing of societies with a working knowledge of Marathi language;
(b) “auditing firm” means a firm of more than one Chartered Accountant within the meaning of the Chartered Accountants Act, 1949, who have a fair knowledge of the functioning of the societies and an experience of atleast three years in auditing of societies with a working knowledge of Marathi language;
(c) “a certified auditor” means a person who holds a Degree from recognised University and also has completed a Government Diploma in Co-operation and Accountancy and having a fair knowledge of the functioning of the societies and who has an experience of atleast five years in auditing of societies with a working knowledge of Marathi language;
(d) “Government Auditor” means an employee of the Co-operation Department of the State, possessing the Graduation or Post Graduation Degree, in addition to the Higher Diploma in Co-operative Management or the Diploma in Co-operative Audit or Government Diploma in Co-operation and Accountancy with a working knowledge of Marathi language and who has completed the period of probation successfully;
Explanation II.- The terms and conditions for inclusion and retention of name as an auditor or auditing firm in the panel of auditors shall be subject to the terms and conditions, as may be prescribed.’’
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Auditor Empanelment Downloads
SIR AM LAXMAN SAMBHAJI LANKESHWAR FROM SOLAPUR MY COLIFICATION IS BCOM , GDC &A . AND CA 3YEAR XPREINCE SO I DONT KNOW HOW TO RGISTRATION PANNEL PLEASE INFORMED ME ABOUT GDCA PANNEL REGSTRATION
THANKS
RESPECTED SIR,
I MR. SANJAY GOLE I WANT TO ENROL MY NAME IN GOVT. CERTIFIED AUDITORS LIST .FROM 2011 TO 2014 IAM ON PANNEL. BECAUSE OF SOME REASONS I CAN NOT ENROLL PL GUIDE ME
THANKS SIR
I have done GDC&A . how to start working.? don’t know anything. Can I approach any society directly for audit work on the base of my certificate???
i have pass b.com GDC&A m.a (ECO),how to eanroll as panel auditor for co-op socirty,s and co-op housing society
tell me on my email or mo.no.(9765701050)
please give me full contact details, ie phone, email address and addressof the registering authority with whom the Auditors for society are registered and to whom we can complain for irresponsible work done by such Auditor.
I have Completed B.com . I have passing GDC&A Apply Audit Pnel Diteles
To revert:
It is now over 3 years since then, with still no awareness
much less awakening, more so any positive move forward in the desired direction from one and all who-must be-most-concerned in own interests !
While on the topic, off and on, sporadic doubt is raised in certain quarters, and further, being pursued with all seriousness, in one’s view unwarranted though, regarding annual filing of ‘audited final accounts’ of a AOA, and with ‘sub-registrar’ . Such a confusion or misconception, it is noted, persists especially among the AOAs in Karnataka. As is to be readily surmised, however, such a confusion or misconception is principally attributable to the largely obtaining fact / reality that almost all AOAs in Bengaluru and other places in Karnataka have been, and even to date, continue to be, registered under the Societies Registration Act (i.e. with the Registrar of Societies as per that Act), as RWAs; AND NOT, as strictly and rightly required, under the Housing Co-Op Societies Act (i.e. with the Registrar of
Co-Op Societies) as AOAs.
So far as one is aware, there is no such requirement EVEN for any ‘CHS’, – in places like Mumbai, – a duly registered Housing Society with the competent authority i.e. REGISTRAR OF CO-OP SOCIETIES under the Co-op Housing Societies Act. That appears to be the present position, with no modification, even after the recently introduced changes in the Rules and Bye laws as appertain to,
inter alia, the accounts and audit of a CHS.
And, to be precise, right from inception, that happens to be so for decades now; so far as known, anyway, there is no similar Act (or Rules and Bye laws) applicable to and in place for AOAs; that is so, both in Maharashtra , being the role model, and any other State , including Karnataka.
Any owner of a ‘FLAT’ (or Apartment) in Mumbai is expected to be well aware of, had there been any such requirement of filing of annual audited accounts with any authority; more so, of all, with the ‘sub-registrar’, who is in no way concerned or empowered to require and /or accept any such filing.
Perhaps, the author of the subject write-up himself, and / or other Property law pundits, -who are supposed to be suitably / better equipped hence competent to advise and guide in proper light – are invited to comment / share views, should those have a materially different perception / well
considered contrary view; or be feasible
or possible.
what is the procedure of empanelment for audit of multi state co-operative spcieties
Please send the new Registration due date of the Empanelment of Auditor for Audit of Cooperative Societies in Maharashtra
Sir
B.A pass student whit holding GDC & A
Deploma can I apply audit panal ?
How to register audit panel form
I have completed my GDC&A in May-2010. I am working as an Assistant – Manager in one of the textile company. Now I want to start audit for Co-Operative housing Socieites. Please tell me the procedure. What is the eligibility criteria. How can I register my name on panel and start auditing ? Such a experience in same field is required or I can start individually by referring Audit reports of Societies ? Please help…
Sir,
I am a CA and is registered and have received a panel number for the same…last year…but have failed to enrolled myself before due date as per the new ammendment..so now what is the criteria to get enrolled or what are the consequences of the same…kindly reply on
haresh_karvat @rediffmail.com
Where I find the the list of panel auditor appointed for co-op. housing societies of Mumbai.
Kind Regards,
J.D.Nikumbh
The new rules regarding the enrollment of new auditors are really pathetic and senseless, if u check with eligibility criteria, cooperative department is asking for 5 years experience of auditing on their panel, and not excepting the experience gain under the CA. if department don’t allow someone to work on the panel, how the candidate receives the experience and same applied to those auditors also who are already on the panel of Maharashtra govt. and didn’t completed their 5 years they are also not eligible for new panel, so the question is if the auditors who are already working from last 2years or more than that how department provided them the license in the start to audit, that why the new rule is senseless, somebody should raise this question in front of appropriate authorities.So so my suggestion is to STOP taking GDCA Exam from Government Department if you are not giving license to passed GDCA Exam & having experience in Societies Audits.
Pursuant to amendment in Constitution of India, Maharashtra Co-op Societies (Amendment) Ordinance, 2013 publish in Govt. of Maharashtra Gazette on Feb,13, 2013 & immediately the process of Auditor empanelment initiated by end of the Feb 2013 and completed by 25th March 2013. Accordingly the entire procedure for ‘Auditor Empanelment’ was completed within very short period of time. Due to March month most of the CAs were engage in year ending work. Many of the CAs were even not aware of the amendments and corresponding changes especially in Co-operative Audit filed.
Earlier to the said amendment, especially for Housing Co-operative societies, to appoint empanel CA as auditor was not compulsory. Accordingly, many Housing Societeis appointed their auditor in last AGM itself for FY 2012-13. Now, these societies are in trouble, because the auditor they appointed can not conduct audit, as he is not empanel one.. Till date many Housing Societies not even aware of this fact.
Due to completion of ‘Empanelment Procedure’ in very short period of time many CA not filed empanelment application, even though they have requisite experience & expertise.
Due to all this, practically default rate for not getting accounts audited will increase, as Societies are not aware of the amendment made in Co-operative Act. Also, number of CAs who already made empanelment is very small. Also, there is new concept of ‘Experience CA’ who should have atleast 3 years knowledge of Co-operative audit & Marathi language. This will keep newly passed CAs out of the co-operative audit practice for entire life time. How they will gain experience in ‘Co-operative field’ once they kept out of the empanelment for initial periods.
All these factors highly demands rationalization in audit empanelment rules & procedures. Failure to this will definitely increase default rate and accordingly regulatory burden on the Co-operative Department.
Accordingly, we request you to kindly extend the date for ‘audit empanelment’ and also relax criteria of ‘Experience CAs’ for empanelment.
I am a partner in a firm ofchartered accountants. three of the partners have completed the COOPT. SOCIETIES COURSE AND POSSESS THE CERTIFICATES.neither the firm nor the partners have applied for empanelment. Can we do so NOW. only one partner has little experience in audit of a couple of cooperative housing societies
The new rules regarding the enrollment of new auditors are really pathetic and senseless, if u check with eligibility criteria, cooperative department is asking for 5 years experience of auditing on their panel, and not excepting the experience gain under the CA. if department don’t allow someone to work on the panel, how the candidate receives the experience and same applied to those auditors also who are already on the panel of Maharashtra govt. and didn’t completed their 5 years they are also not eligible for new panel, so the question is if the auditors who are already working from last 2years or more than that how department provided them the license in the start to audit, that why the new rule is senseless, somebody should raise this question in front of appropriate authorities.
result of Empanelment of Auditor for Audit of Cooperative Societies in Maharashtra F.Y. 2012-13 what is website name and date of result
result of Empanelment of Auditor for Audit of Cooperative Societies in Maharashtra F.Y. 2012-13 what is website name
The write-up confines itself to the state of Maharashtra. However, it calls for a specially pointed mention that the amendments of the Constitution are of relevance and equal application to all the states in India.
As of now, till the respective States have carried out the consequentially wanted changes in the own independent state enactments in force, by suitably incorporating the referred amendments in general, and in so far as they are to apply to housing societies in particular, the announced empanelment of auditors is, in no way, relatable thereto.
Going by one’s information, in certain states (e.g. Karnataka) housing societies (in Karnataka, ‘owners’ associations) have remained, for long, to be brought within the purview of the Co-operative Societies Act.
Of course, as one imagines, until that happens, auditors would, in the audit reports, require to incorporate a suitably framed qualification Note, so as to bring out the actual factual state of affairs. To hint at, may be, it will require to be disclosed to the effect that the audited accounts of such entities (housing societies or associations) are subject to changes, if any called for, if and when the state enactment comes to be modified and the so amended provisions take effect.
Over to the ICAI, besides its concerned members,for a proper examination,and further deliberation, as considered necessary, for providing useful guidance, on a timely basis.