Credit co-operative society audit

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rohit (Querist)
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08 December 2012 PLEASE MENTION IMPORTANT POINTS TO BE SEEN IN INTERNAL AUDIT OF CREDIT CO-OPERATIVE SOCIETY?

IS INTERNAL AUDITOR A EMPLOYEE OF ORGANISATION?

Sanket

Sanket (Expert)
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09 December 2012 Registers to be verified
a) Property & Investment Register i) Situation ii) Date of acquisition iii) Cost price and present market price. If the difference between two is significant note should be given regarding present market value iv) Depreciation v) Face value vi) Interest due dates, interest realised vii) Sales, purchases, profit or loss on sale
b) Fixed Deposits Register i) Date of acceptance ii) Date of maturity iii) Interest due date iv) Repayment
c) Surety Register i) Loans are given against the personal security of the debtor, in addition to a surety or guarantee given by two members.
d) Register of recovery of loan from salaries & directly by receipts from members.

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