Auditors should do a thorough job presenting their reports to the cooperative institutions on time as required by the RBI and other regulatory bodies, suggested Yadav Shirpurkar chairman of Chitnavispura Sakari Bank while addressing a half-day seminar on audit of cooperative organisations in Nagpur.
The auditors should also help the boards and managements with their expert knowledge in developing ways and means of overcoming weaknesses and mistakes in the cooperatives’ day to day functioning, Yadav remarked.
In the technical session that followed, some speakers versed in the intricacies of auditing spoke at length about their trade and fielded questions from participants in the seminar.
A couple of papers presented in the seminar shed light on particular problems faced by the cooperatives in terms of auditing. One of the cooperators who took part in the seminar described the proceedings as extremely instructive.