MSCS: Ministry revises format of Auditor’s Report

Ministry of Agriculture and Farmers Welfare has recently issued a circular to all Multi-State Urban Cooperative Banks across the country regarding “Revision in the format of Statutory Auditor’s Report of MSUCBs”.

The letter issued by Kamna R.Sharma, Deputy Commissioner (Cooperation) reads “I am directed to say that Reserve Bank of India has prepared an illustrative format of an Independent Auditor’s Report of Multi-State Urban Cooperative Banks in case modifications (qualified/adverse/disclaimer) required to be maintained by all the Urban Cooperative Banks”.

“A copy of the same is enclosed and it is directed that the aforesaid format be circulated to the Statutory Auditor of your bank so that audit report of the ensuring financial year i.e. 2017-18 year is submitted in the said format. This is issued with the approval of Central Registrar of Cooperative Societies”, it further reads.

The Circular along with the format can be downloaded from the following link. The URL of link is http://www.nafcub.org/download.php?dept=news&Doc_id=28

There are around 60 Multi-State Urban Cooperative Banks out of a total 1579 Urban Cooperative Banks in the country.

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