Consider the following statements regarding Audit of Accounts of Co operative Societies 1 The state ...........

Indian Polity Statutory Bodies

Consider the following statements regarding Audit of Accounts of Co-operative Societies.

1.The state legislature may make provisions for the maintenance of accounts by the co-operative societies.

2.The state Legislature shall lay down the minimum qualifications and experience of auditors and auditing firms that shall be eligible for auditing the accounts of the co-operative societies.

3.The audit report of the accounts of an apex co-operative society shall be laid before the Governor.

Choose the correct statement/s

1 and 2

2 and 3

1 and 3

1,2 and 3

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Explanation:

1 and 2

Statement 1 is correct. The state legislature may indeed make provisions for the maintenance of accounts by cooperative societies.

Statement 2 is also correct. The state legislature is responsible for laying down the minimum qualifications and experience of auditors and auditing firms eligible for auditing the accounts of cooperative societies.

Statement 3 is incorrect. The audit report of the accounts of an apex cooperative society is typically laid before the Registrar of Cooperative Societies or a designated authority, not necessarily before the Governor.