Multi-State Co-Operative Societies Act, 2002

Section - 72 - Qualifications and disqualifications of auditors

Qualifications and disqualifications of auditors

72. (1) A person shall not be qualified for appointment as an auditor of a multi-State co-operative society unless he is a chartered accountant within the meaning of the Chartarered Accountants Act, 1949.

(2) None of the following persons shall be qualified for appointment as auditor of a multi-State co-operative society-

(a)-a body corporate;
(b)-an officer or employee of the multi-State co-operative society;
(c)-a person who is a member, or who is in the employment, of an officer or employee of the multi-State co-operative society;
(d)-a person who is indebted to the multi-State co-operative society or who has given any guarantee or provided any security in connection with the indebtedness of any third person to the multi-State co-operative society for an amount exceeding one thousand rupe .... To read the full section download the app from Google Play store