What are the requirements for a co-operative society's audit of accounts in India?
In India, the State Legislature may provide provisions for maintaining accounts by co-operative societies and auditing those accounts at least once per financial year. The State Legislature must also lay down the minimum qualifications and experience for auditors and auditing firms eligible to audit co-operative societies. Every society must have its accounts audited by an approved auditor or auditing firm within six months of the close of the relevant financial year.