Scribd
Upload
79 views8 pages

GCA Audit Report

The document outlines the contents of a presentation on auditing cooperative societies. It discusses what an audit report entails, including examining books, accounts, papers, overdue debts, securities and assets/liabilities. An audit report should state the condition of the books/accounts, be explicit and accurate, and based on documents examined. It should also mention major/minor lapses, address previous audit objections, and include enclosures like balance sheets, receipts/payments statements, and registers. The report should critically examine cash/stock balances, assets/liabilities, overdues, and bad debts, while also being suggestive.

Uploaded by

Suren
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
79 views8 pages

GCA Audit Report

The document outlines the contents of a presentation on auditing cooperative societies. It discusses what an audit report entails, including examining books, accounts, papers, overdue debts, securities and assets/liabilities. An audit report should state the condition of the books/accounts, be explicit and accurate, and based on documents examined. It should also mention major/minor lapses, address previous audit objections, and include enclosures like balance sheets, receipts/payments statements, and registers. The report should critically examine cash/stock balances, assets/liabilities, overdues, and bad debts, while also being suggestive.

Uploaded by

Suren
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 8

PR E S E N TAT I O N

BY,

NAME: R.SURENDRA,
REG.NO: 20203021,
B.COM (COOPERATION),
GROUP-IV
WELCOME TO THE GREAT
SUREYNDRAN’s
PRESENTATION SHOW !
CONTENTS:

 Audit in Cooperative
Societies
 Audit Report
 Nature of Audit Report
 Enclosures of Audit
Report
 Needs of an Audit
Report
 Certification
 Classification
 Audit Defects and
Rectifications
Audit in Cooperative Societies
 Cooperative audit is an examination of books, accounts,
papers, overdue debts, securities and valuation of assets and
liabilities of the society.

 The Registrar, the Collector or any other person authorized by


the general or special order in writing on his behalf of the
Registrar, shall at all-time has access to all the books,
accounts, papers, securities of a society shall furnish such
information concerning the transactions and working of the
society as the person making such inspection may require.

 The Audit fee is paid by cooperative society according to the


statutory scale of fees prescribed by the Registrar in this regard
according to the category of the society.
Audit Report
 According to Mr.Surendra Ravichandran,
Audit Report is a statement which is given by the
relevant auditor through his audit, inquiry and
inspection of the books and society; the audit
states the situation and perfection of the books,
accounts (profit & loss account, balance sheet,
and etc.) papers, securities and valuation of
assets and liabilities of the society.
Nature and Enclosures of an
Audit Report
 The language of audit report should be explicit and
brief and accurate.
 Audit report must be based upon account
books/documents examined.
 Audit report must be reliable.
 The report should invariably be written in ink.
 Major and minor lapses need to be mentioned in
the reports.
 Details of objections raised in previous audit and
scrutinization of it.
 Complete details of functions according to TNCS
Act (1983), TNCS Rules (1988), and Bye-laws of the
society to its virtue.
 An audit report should invariably accompanied by the
following lists in addition to balance sheet:
a) Receipt and Disbursement statement
b) Minutes book
c) Trial balance
d) Trading a/c
e) P&L a/c
f) Register of members
g) List of defaulters
h) Property register
i) Loan application register
j) Register of stocks and dead stocks
k) List of creditors and debtors
l) Register of audit objections and rectification
 The cash balance and the stock should be
examined and there positions should be
written in explicit manner.
 Assets and liabilities belonging to the
society should be written in the audit report
 Over dues and bad debts of the society
should be written in the audit report
 All vouchers of the year, other information
reports should be attached with the audit
report
 Audit reports should not only the critical
but also be suggestive.

You might also like