Article 243ZM of Constitution of India – Audit of accounts of co-operative societies
Article 243ZM of Constitution of India deals with Audit of accounts of co-operative societies
Original Text of Article 243ZM of Constitution of India
(1) The Legislature of a State may, by law, make provisions with respect to the maintenance of accounts by the co-operative societies and the auditing of such accounts at least once in each financial year.
(2) The Legislature of a State shall, by law, lay down the minimum qualifications and experience of auditors and auditing firms that shall be Eligible for auditing accounts of the co-operative societies.
(3) Every co-operative society shall cause to be audited by an auditor or auditing firms referred to in clause (2) appointed by the general body of the co-operative society:
Provided that such auditors or auditing firms shall be appointed from a panel approved by a State Government or an authority authorised by the State Government in this behalf.
(4) The accounts of every co-operative society shall be audited within six months of the close of the financial year to which such accounts relate.
(5) The audit report of the accounts of an apex co-operative society, as may be defined by the State Act, shall be laid before the State Legislature in the manner, as may be provided by the State Legislature, by law.
Questions related to Article 243ZM of Constitution of India
According to Indian Kanoon, Article 243ZM of the Indian Constitution deals with the audit of accounts of every cooperative society to ensure financial transparency and accountability as per the Constitution of India.
As per Article 243ZM of the Indian Constitution, the audit of cooperative societies must be conducted by an auditor or auditing firm appointed by the State Government from a panel approved by it, following the Articles of Indian Constitution.
Article 243ZM of the Indian Constitution is important because it mandates regular and professional auditing of cooperative societies, ensuring financial discipline as provided under the Articles of Indian Constitution.
According to the Constitution of India, Article 243ZM requires that the accounts of cooperative societies must be audited at least once every financial year, in line with the provisions of the Articles of Indian Constitution.
You can read the detailed provisions of Article 243ZM of the Indian Constitution on Indian Kanoon or in the official text of the Constitution of India covering all Articles of Indian Constitution.
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