Section 57. Nature of Audit.

The audit shall include- (i) a verification of the cash balance and security; (ii) a verification of the balance at the credit of the depositors and creditors and of the amounts due from the debtors of the co-operative society; (iiij an examination of overdue debts, if any; (iv) the valuation of the assets including stock verifications, and liabilities of the co-operative society; (v) an examination of the statement of accounts and balance sheets to be prepared by the managing body of the co-operative society in such forms as may be prescribed; (vi) an examination of the utilization of Government financial assistance; (vii) a certification of the realized profit; and (viii) any other relevant matter.