After 97th amendment in constitution of India the concerned provisions of the MCS ACT 1960 are revised w.e.f. 14/02/2013. On the basis of these amendments Govt. of Maharashtra issued a circular dated 29/10/2014 on the issue of auditing in Co-Operative Housing Societies with following details.
The auditing fee will be area wise as under :-
Sr. No. AREA Audit Fee per members of the society
1. Capital City (Mumbai) Rs. 100/-
2. Mahanagar Palika area & Rs. 75/-
Cantonment area
3. Nagar Parishad area at Rs. 50/-
Taluka level
4. Co-Op Society in Rural area Rs. 40/-
5. Co-Op Society in Liquidation Rs. 2,000/- MAXIMUM Amount for
entire society audit
This rates will be for one year and also apply for re-auditing
As per provision made in the Sec 81(I)(b)(a) Co-operative Housing Societies are included in the said provision and hence, they have also to get their working audited by the certified auditor/ auditing firms from Panel of auditor. This panel auditor shall be revised after every 3 year
Co-Op societies are allowed to select their auditor as per Rule 69. The auditor shall not audit more than 20 co-operative societies having paid up share capital in excess of Rs. 1.00lakh
Above fees shall be excluding travelling expenses and incidental changes of auditors subject to actual expenses or 5 % of audit fee whichever is less
Auditor for next year shall be selected in the AGM every year with his fee and informed to registering authority.
The society shall display on its notice board name, address and telephone number of Auditor with a copy to the registering authority
The auditing fee will be area wise as under :-
Sr. No. AREA Audit Fee per members of the society
1. Capital City (Mumbai) Rs. 100/-
2. Mahanagar Palika area & Rs. 75/-
Cantonment area
3. Nagar Parishad area at Rs. 50/-
Taluka level
4. Co-Op Society in Rural area Rs. 40/-
5. Co-Op Society in Liquidation Rs. 2,000/- MAXIMUM Amount for
entire society audit
This rates will be for one year and also apply for re-auditing
As per provision made in the Sec 81(I)(b)(a) Co-operative Housing Societies are included in the said provision and hence, they have also to get their working audited by the certified auditor/ auditing firms from Panel of auditor. This panel auditor shall be revised after every 3 year
Co-Op societies are allowed to select their auditor as per Rule 69. The auditor shall not audit more than 20 co-operative societies having paid up share capital in excess of Rs. 1.00lakh
Above fees shall be excluding travelling expenses and incidental changes of auditors subject to actual expenses or 5 % of audit fee whichever is less
Auditor for next year shall be selected in the AGM every year with his fee and informed to registering authority.
The society shall display on its notice board name, address and telephone number of Auditor with a copy to the registering authority
