Audit of apartment owners association

I request clarification on the title of the message and a matter linked to that

1. I am an owner of an apartment out  of 80 flats registered under Registrar of Cooperative Societies, Bangalore; The Gross Collection per annum is Rs 22 lacs .The association cannot afford hefty fees to a qualified CA not affordable. Is it possible for the association one of the owners to compile on honorary basis (Free) and another Owner as auditor (free)?

Owner can compile on honorary basis but another owner cannot be appointed as a auditor.

The qualified auditor is asking for fee for compiling books as well as audit certify it on his own is this permissible as per ICAI rules
Its not permissible.
2. Is registering an apartment owners / resident association under Registrar of Cooperative Societies in Bangalore  OK ?    A study of laws concerning flat owners association in Karnataka reveals that any association not registered under Karnataka Apartment Owners Association Act 1972 is not a legal entity. Is it correct ? If so any audit certification of an association registered under cooperative societies act is valid?
registeration is ok. but I dont know about certification.
3. Is there any law that tens cannot be part of a residents association ? If so why such rule ?
Please clarify this question
 

K Sivakumar