KCS ACT 1969
SECTION : 1 RULE 1
SHORT TITLE, EXTENT, COMMENCEMENT
Title - Kerala cooperative societies act 1969.
Extent - The whole state of Kerala
Commencement : 15-05-1969
These rules may be called the Kerala cooperative societies 2nd amendment Rules 2024.
They shall come into force at once
Amendment to the rules in the KCS rules 1969.
Sec 2 Definition (Amendment)
Amend of Section 2 -In sec 2 -ACT 21 of KCS ACT 1969
Sec 2 (ab) - Auditing of Accounts of Cooperative society
Close Examination of financial transaction overdue debt if any,
Maintenance of books of accounts, documents, and other records of a business
Preparation of audit report
Inquiry into the affairs of the society and subsidiary institution in order to ascertain the correctness of accounts.
Activities where useful in promoting the economic welfare of the members in accordance with cooperative principles
Amend - It includes verification of accounts through software solutions.
Auditing of information system
Migration of data in the case of societies whose accounts are computerized
New Sec 2 (ad) - Administrative Audit
Sec 2(ad)- Administrative Audit means a Close Assessment of all affairs of the society
Including Constitution, Management and establishment , Maintenance of books of accounts and other records
Internal Control System of the society
which its Activities were useful in promoting the economic welfare of the members in accordance with cooperative principles
It includes Compliance Audit, Performance Audit as well as IT Audit.
New Sec 2 (db) Common Software for PACS
