Housing Co-operative Society Audit
Audit of accounts and records of housing co-operative societies as required under the Maharashtra Co-operative Societies Act, 1960.
A S Pirjade & Associates
We believe in going beyond the fundamentals to provide comprehensive, strategic solutions for your business needs. Our approach involves fostering strong relationships, staying informed about the latest developments, and ensuring that all regulatory requirements are met. Whether you're starting a new venture or managing an established business, we focus on guiding you through complex challenges with a commitment to accuracy, compliance, and long-term success.
Services Details
Housing co-operative societies in Maharashtra are governed by the Maharashtra Co-operative Societies Act, 1960 and are subject to mandatory annual audits by a certified auditor empanelled with the Co-operative Department. The audit ensures that the society’s accounts, governance practices, and statutory compliance are in order and that funds are being managed transparently in the collective interest of members.
Our firm conducts audits of housing co-operative societies in accordance with the rules and formats prescribed by the Co-operative Department, ensuring compliance with applicable laws and financial discipline.
Scope of services includes:
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Review of society’s books of accounts, vouchers, receipts, payment records, and bank statements
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Verification of income sources such as maintenance charges, interest income, transfer fees, and penalties
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Review of expenditure on common amenities, repairs, security, administration, and other heads
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Reconciliation of bank balances, fixed deposits, and investments
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Verification of share capital, member contributions, and member register
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Examination of statutory registers and resolutions of General Body and Managing Committee meetings
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Verification of compliance with by-laws and Maharashtra Co-operative Societies Act, 1960
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Checking of TDS compliance, GST applicability (if any), and other statutory dues
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Preparation and submission of Audit Report in Form N
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Issuance of Audit Rectification Report, if required, and follow-up on non-compliances
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Guidance on improvements in record-keeping and internal controls
The audit process is conducted with the objective of ensuring transparency, accountability, and regulatory compliance within the society's financial and administrative framework.
Working with A S Pirjade & Associates
- Commitment to Excellence: We prioritize delivering solutions that maintain the highest standards of quality and precision.
- Transparency and Integrity: Building trust and maintaining clear, open communication is at the core of our approach.
- Cost Efficiency: Our solutions help reduce operational costs by optimizing resources and minimizing inefficiencies.
- Streamlined Business Operations: By handling key aspects of your business needs, we allow you to focus on your core competencies and growth.
- Compliance Assurance: We ensure your organization remains up-to-date with all regulatory requirements, mitigating risk and ensuring smooth operations.