2) Whether the Society accept savings/fixed deposit from members & non-members by maintaining adequate fluid resources according to standard laid down by RCS(O) under Rule-50 of OCS Rules, 1965. 3) Whether the stipulations made under Rule-49(6) of OCS Rules is complied, if the society take up current account deposit business. Details of Fixed Assets Volume/Quantity Purchase Value Book Value Loans and Advances with rate of interest. Loans & Advances financed during the year of audit along with its comparison to the previous year. The details of collection made during the year need be furnished. D.C.B Principal- Demand, Collection and Balance of loans during the year. Interest- Demand, Collection and Balance of Interest during the year. (Details to be given in statement) Audit Observation 100% checking Loans & advances be made to find out whether. Schemes of loans are approved by competent authority. Sanction is made as per Rule of business. Proper documentation made credit approval security obtained. Post sanction utilisation of loan is ensured. Bad & Doubtful Assets and Provision thereof A detailed statement to this effect showing Bad & Doubtful assets and provision to the extent of its requirement is to be prepared. Audit observation Whether Bad & Doubtful assets have been assessed and provisions made in terms of circular instructions issued to this effect. Amount of provisions made during the year. Amount of provision made at the close of the year. Amount of provision made against O.D loans and interest. Legal action taken for recovery of O.D loans. Notes on action taken by the society for realisation of O.D loans. Cases pending with legal forum.
2) Whether the Society accept savings/fixed deposit from members & non-members by maintaining adequate fluid resources according to standard laid down by RCS(O) under Rule-50 of OCS Rules, 1965. 3) Whether the stipulations made under Rule-49(6) of OCS Rules is complied, if the society take up current account deposit business. Details of Fixed Assets Volume/Quantity Purchase Value Book Value Loans and Advances with rate of interest. Loans & Advances financed during the year of audit along with its comparison to the previous year. The details of collection made during the year need be furnished. D.C.B Principal- Demand, Collection and Balance of loans during the year. Interest- Demand, Collection and Balance of Interest during the year. (Details to be given in statement) Audit Observation 100% checking Loans & advances be made to find out whether. Schemes of loans are approved by competent authority. Sanction is made as per Rule of business. Proper documentation made credit approval security obtained. Post sanction utilisation of loan is ensured. Bad & Doubtful Assets and Provision thereof A detailed statement to this effect showing Bad & Doubtful assets and provision to the extent of its requirement is to be prepared. Audit observation Whether Bad & Doubtful assets have been assessed and provisions made in terms of circular instructions issued to this effect. Amount of provisions made during the year. Amount of provision made at the close of the year. Amount of provision made against O.D loans and interest. Legal action taken for recovery of O.D loans. Notes on action taken by the society for realisation of O.D loans. Cases pending with legal forum.
Proforma%20for%20Final%20Audit%20report%20of%20CREDIT%20COOPERATIVE%20SOCIETIES.docx