Home The Constitution Part IXB Article 243ZM

Art. 243ZM Part IXB: The Co-operative Societies

Audit of Accounts of Co-operative Societies

Exact text — Constitution of India

(1) The Legislature of a State may, by law, make provisions for 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.

In Plain English

What this Article actually means

This Article requires at least an annual audit of every co-operative society's accounts, and specifically requires states to set MINIMUM qualification standards for who's allowed to conduct that audit — ensuring professional, competent financial oversight rather than allowing unqualified or inadequate auditing.

Why This Matters To You

How it shows up in everyday life

This is why your co-operative bank or credit society's annual accounts must be professionally audited by someone meeting state-prescribed minimum qualifications — a real safeguard for members' financial interests in the institution.

Read alongside this one

Art. 243zo — Right of a Member to Get Information

Frequently Asked

Quick answers about Article 243ZM

Can any person conduct a co-operative society's audit?

No — states are constitutionally required to set minimum qualification and experience standards for eligible auditors, precisely to ensure competent financial oversight.

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The text above reproduces Article 243ZM of the Constitution of India as amended to date, for general educational reference. It is public-domain legislative text, but we recommend cross-checking the authoritative version at legislative.gov.in or india.gov.in before relying on it for a legal matter. The explanation, examples and FAQs are general information, not legal advice — consult a qualified advocate for guidance on your specific situation.