The Central Registrar of Cooperative Societies (CRCS), under the Union Ministry of Cooperation, has issued a formal circular directing all Multi-State Co-operative Societies (MSCS) to strengthen their internal control systems and ensure preparedness for concurrent audits by mandating daily reporting of branch-level business to the Head Office.
According to the notification issued by the Office of the CRCS, the timely availability of branch-wise information has been identified as a critical requirement for effective monitoring and the smooth conduct of concurrent audits. To address this, all branches of MSCS have been instructed to submit a daily report of their business activities without exception.
The circular specifies that the daily report must include details of transactions, operational activities, and any significant developments at the branch level. To promote uniformity and consistency across branches, societies may circulate a standard reporting format separately.
Emphasising accountability, the CRCS has clearly stated that Branch Managers or Branch Heads will be personally responsible for ensuring the accuracy, completeness, and timely submission of the daily reports to the Head Office.
The notification further directs that the Head Office of each society shall consolidate and maintain all daily reports, so that relevant information is readily available in advance whenever a concurrent audit is undertaken, wherever applicable. This measure is intended to avoid delays and gaps during audit processes.
The circular has been issued with the approval of the competent authority and has been signed by Monika Khanna, Joint Registrar, Ministry of Cooperation. It has been circulated to the Chairman and Chief Executive Officers of all Multi-State Co-operative Societies for strict compliance.