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AUDITOR’S REPORT
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Under Section 31
of the Banking Regulation Act, 1949
(As applicable to Co-operative Societies)
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We have audited the attached
Balance Sheet of THE R. S. CO-OPERATIVE BANK LIMITED., Mumbai
( herein after referred to as ‘the Bank ) as on 31st March,
2009 and the Profit & Loss Account and the Cash Flow Statement
for the year ended on that date annexed thereto.
We conducted our audit in accordance with Auditing standards
generally accepted in India. Those standards require that we
plan and perform the audit to obtain reasonable assurance
about, whether the financial statement are free of any
material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by
management, as well as evaluating the financial statement
presentation. We believe that our audit provides a reasonable
basis for our opinion.
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1. |
We have obtained all the
information and explanations, which, do the best of our
knowledge and belief were necessary for the purpose of our
audit. |
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2. |
In our opinion, proper books
of accounts as required by the Maharashtra Societies Act,
Rules any Bye Laws of the Bank have been kept by the
Bank, so far as appears from our examination of the
books. |
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3. |
The transactions of the
Bank, which have come to our notice have been within the
competence of the Bank and are in compliance
with RBI guidelines. |
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4. |
The Balance Sheet and Profit
& Loss account are in agreement with the books of
Account maintained by the Bank.. |
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5. |
We have not come across any
case of material impropriety or irregularity on the
part of the Bank in the expenditure or in the realization
of money due to the Bank. |
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6. |
In our opinion, and to the
best of our information and according to the explanations
given to us and as shown by the books of the bank, the
said accounts read with the notes thereon including
Significant Accounting Policies mentioned therein, have
all information required by the Maharashtra Societies Act
and rules made there under, in the manner so required and
give a true and fair view in conformity with the
accounting principles generally accepted in India :
a. In the case of the Balance Sheet of State of affairs of
the Bank as at 31st March, 2009, and
b. In the case of Profit and
Loss Account, of the profit of the Bank for the year ended
on that date and
c. In the case of Cash Flow
statement, of the Cash Flows of the Bank for the year
ended on that date. |
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Place:
Mumbai
Date: 30-06-2009
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FOR
AGARWAL & MANGAL
Chartered Accountants
S/d-
PANKAJ K. JAIN
Partner
M. No. 108108 |
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