Books of Accounts and Financial Records

(1) The Society shall maintain proper, complete and up-to-date books of accounts, registers, documents and financial records, in physical form, electronic form or both, in accordance with the provisions of the Act, the Rules and these Bye-laws.

(2) Without prejudice to the Act and the Rules, the Society shall maintain, inter alia, the following records:—

(a) Cash Book, Day Book and Bank Book;

(b) General Ledger and Member-wise Personal Ledger;

(c) Bills Register, Collection Register and Receipt Books;

(d) Register of Investments;

(e) Register of Fixed Assets and Property Register;

(f) Stock and Dead Stock Register;

(g) Register of Deposits and Loans, where applicable;

(h) Register of Auditors and their Written Consent;

(i) Register of Audit Objections and Audit Rectification;

(j) Such other books, registers, statements and records as may be prescribed under the Act, the Rules or by the Registrar.

(3) Every financial transaction shall be supported by proper vouchers and documentary evidence and shall be recorded promptly and accurately.

(4) Where accounting work is entrusted to an accountant, consultant or software service provider, the Committee shall remain responsible for the correctness, completeness, authenticity and preservation of all books of accounts and financial records.