The Commissioner Co-operation, Pune has intimated to the WIRC, vide letter dated 19th May, 2010 to prepare fresh panel for the Audit of Urban Co-operative Banks having deposit exceeding Rs.25 Crores. The Division-wise and District-wise panel shall be prepared by September, 2010 and the Co-operative Department will notify the panel by November, 2010. The various scoring/marking points of eligible Firms are mention in said letter. According to said letter; ”The allotment of UCBs will be made according to point scored by every firm. A firm having highest score will be allotted a bank with highest working capital/deposit and in the same descending order.
The Criteria proposed by commissioner of co-operation empanelment of CA firms for audit of urban co-operative banks are being hosted, herewith.The technical details as regards details of procedural aspects shall be notified in due course by the institute.Members can note that Sr no. 7 of points for score mentions about condition of attending WIRC co-operative course.
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Is this the practice followed all over the country, including the powerful sugar coops.? Are independent Auditors appointed to audit their accounts? One rather is aware of the prevalent and wide practice of these audits being done by a set of firma by prior arrangement.