It is mandatory for society to rectify observation mentioned in audit report.

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Q1. How to rectify observation?

Auditor might have mentioned set of defaults in audit report. It is responsibility of management committee to rectify those defaults by taking necessary action.

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Q2. What after rectifying defaults?

Committee to submit Form O – Audit Rectification Report to auditor mentioning the fact and auditor further will put necessary remark on form O.

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Q3. Is there any time limit for submission of Form O to auditor?

Yes. Form O should be submitted to auditor within 3 months from the date of submission of report by auditor.

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Q4, What details committee need to mention in Form O?

We have attached Form O format for your reference. You can view and download the format.

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Q5, Whether Form O is to be uploaded on Cooperative website?

Yes. Form O is to be uploaded on Cooperative website.

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Q6. Who is responsible to upload form O on Cooperative website?

It is responsibility of auditor to upload Form O from auditor login.

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Q7. What if Form O is not submitted?

Register will step in to fulfil and rectify defaults. Expenses of that will be recovered from society.