|
|
|
For Authors: |
|
|
|
For Readers: |
|
|
|
|
|
Article Details :: |
|
|
| Article Name : | | | SUGGESTIONS TO IMPROVE THE AUDIT SYSTEM IN URBAN CO-OPERATIVE CREDIT SOCIETIES IN MAHARASHTRA | | Author Name : | | | K. B .Kore | | Publisher : | | | Ashok Yakkaldevi | | Article Series No. : | | | ISRJ-329 | | Article URL : | |  | Author Profile | | Abstract : | | | Section 81 to M. Co-op. Soc. Act 1960 provides that within 45 days from the
conclusion of accounting year, the society must make ready, the Annual financial
statement of the society and should submit to the Auditor, within next 15 days for audit
work. But rarely societies observe these provisions. As societies are not getting their
accounts prepared and audited within the stipulated period, both managements and
department find it difficult to maintain effective control over the activities of society. Due
to this the chances of fraud, manipulation in the books of accounts and commission of
errors in the books and records are possible to happen. Many employees of the society
do not know that the financial statements of the society such as Balance Sheet, Profit and
Loss A/c, are to be prepared in the prescribed form. | | Keywords : | | - urban co-operative credit
- financial statement
|
|
|
|
|
|