Section 72 of MSCS Act, 2002 : Section 72: Qualifications Disqualifications Of Auditors

MSCS Act, 2002

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Explanation using Example

Imagine a scenario where "Farmers United", a multi-state cooperative society involved in agricultural activities, needs to appoint an auditor for their annual financial audit. According to Section 72 of The Multi-State Co-operative Societies Act, 2002, they must ensure that the person they appoint is a chartered accountant recognized by the Chartered Accountants Act, 1949.

The society's board considers appointing "AuditCorp Services Pvt. Ltd.", a body corporate, but realizes that under Section 72(2)(a), a body corporate cannot be ...

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