Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: form 3cd :: VAT Audit :: cpt :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: TDS :: articles on VAT and GST in India
« News Headlines »
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest
 Big changes for small units under GST
 Parliament’s winter session to begin on November 16 to expedite GST rollout
 Income-tax (27th Amendment) Rules, 2016 - 92/2016
 Announcement - Clarifications in Respect of MEF 2016-17

Separate audit department for cooperatives mooted in Kerala
May, 26th 2007
The importance of proper auditing system to ensure transparency in preparation of annual financial statements of banks was stressed.

The Kerala Government is considering creation of a separate department of audit to deal with the requirements of the cooperative sector, according to the Minister for Cooperation, Mr G. Sudhakaran.

He said this while inaugurating a workshop conducted by the regional office of the National Bank for Agriculture and Rural Development (Nabard) aimed at sensitising statutory auditors with the latest guidelines of Nabard and the Reserve Bank.

The specific areas covered in the workshop were the policy guidelines under the Banking Regulation Act, 1949; audit rating of banks; prudential norms; and the Kerala State Cooperative Societies Act, 1969. Mr Bhawar Puri, Chief General Manger, Nabard, presided.

In his inaugural address, the Minister emphasised the importance of proper auditing system to ensure transparency in preparation of annual financial statements of banks. The statutory auditors at the office of the Registrar of Cooperative Societies and individual banks are playing an important role in this context.

The cooperatives movement in the State is strong and vibrant, the Minister said. At around Rs 36,000 crore, its deposit base is sound. The extent of faith that people have in the system is evident from the success of special deposit mobilisation schemes implemented in recent times.

In his presidential address, Mr Puri stressed the importance on the role of the audit system in cooperatives. The system is critical not only from the point of view of the statutory requirements, but also for painting a true and correct picture of the state of affairs to help initiate timely and corrective remedial action, if needed.

Mr Puri assured the cooperation and support of Nabard to the State Government in its endeavour to complete the audit exercise by cooperatives in a timely and professional manner. More such workshops will be conducted in future, which will take account of the feedback obtained and the suggestions emanated from previous events. Nabard would help publish a checklist of audit norms in handbook format for the benefit of auditors in the State.

Among those present at the workshop were Mr Kadakampalli Surendran, President, Kerala State Cooperative Bank (KSCB); Mr Jiji Thomson, Principal Secretary, Cooperation; Ms Rani George, Managing Director, KSCB; and representatives from the Reserve Bank regional office and the Department of Cooperation.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions