Short Answer

Yes, members can demand a supplementary audit if they find discrepancies after the AGM.

Detailed Explanation

Section 80 of the Gujarat Cooperative Societies Act, 1961 empowers the members to demand a supplementary audit. This section states that if the members of a cooperative society are dissatisfied with the audit report presented at the AGM or if they find any discrepancies later, they can request the Registrar for a supplementary audit. The Registrar may then appoint an auditor to conduct the supplementary audit to address the concerns raised by the members.

In practice, this provision allows the members to ensure transparency and accuracy in the financial records of the cooperative society. If discrepancies are found post-AGM, members can take proactive steps to safeguard the interests of the society and its members by initiating a supplementary audit process. This additional audit serves as a mechanism to rectify any errors or irregularities in the financial statements and provides assurance to the members regarding the financial health of the society.

Real-world Scenarios

• Scenario 1: After the AGM, members of a cooperative housing society discover inconsistencies in the financial statements. They collectively decide to demand a supplementary audit to investigate the discrepancies and ensure the financial integrity of the society.

• Scenario 2: A group of members in an agricultural cooperative notice discrepancies in the utilization of funds post-AGM. They exercise their right under Section 80 to request a supplementary audit to verify the financial transactions and address any irregularities.

Reference

• Section 80 of the Gujarat Cooperative Societies Act, 1961: [Official PDF]