Section 61
Approval of auditor of co-operative societies
of Co-Operative Societies Act 1993
For the purposes of subsection 60(1), the Commission may by general or special order in writing, and upon the payment of such fees as may be prescribed and subject to such terms and conditions as it deems fit, approve any competent person to audit the accounts of a co-operative society or co-operative societies, as the case may be, under this Act if—
(a)
such person applies in writing to the Commission to be so approved; and
(b)
the Commission is satisfied that such person is fit and competent to be so approved.
(2)
No person shall be approved to audit nor shall he audit the accounts of the same co-operative society for any continuous period exceeding six years, but such person may be approved to audit and may resume auditing the accounts of a co-operative society two years after he has ceased to audit the accounts of that co-operative society.
(3)
The approval for the appointment of the auditor under subsection (1) may be revoked if in the opinion of the Commission, the audit conducted by such auditor is not satisfactory.
Circumstances disqualifying a person from being approved or acting as auditor of a co-operative society