It is one of the advantages of Internal check system :
AHelps to minimise the errors and frauds
BHelps to submit the Audit Report at proper time
CHelps to prepare financial statement at proper time
DNone of these
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Related Questions:
Audit done between two final audit is called ..............
Who are all exempted from payment of Audit fees as per Kerala Cooperative Societies Act , 1969 ?
- Any society for first two years of audit irrespective of date of commencement of business
- All social welfare and farming societies who don't accept deposits and grant loans/advances
- All Cooperative Societies of which all or majority of members are belonging to SC/ST except Apex Cooperative Society
- Any Weavers Society until it has completed sixth Cooperative Year after its commencement of business
- Vanitha Cooperative Societies
Salient features of Co-operative Audit is :
Which is the basic statement taken for the preparation of Final Accounts of a Co-operative Society?
When 2 or more person or firms of CA jointly undertake the audit work of a company, such an audit is known as