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The
societies are in possession of funds and properties provided to
them by the members or by other persons (by way of donation etc.).
The funds and properties are interested for the attainment of objects
for which the society has been formed. The members of the governing
body are the trustees who apply the funds. It becomes necessary,
that the societies maintain regular account books and get them audited
and present them to the members at the general meeting and file
them with the Registrar for scrutiny. Every society should get its
accounts audited once a year by duly qualified auditor and have
balance sheet prepared by him. The auditor should submit the report
showing the exact date of financial affairs of the society.
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