Society audit basics

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What the audit must cover

• Income completeness — all maintenance, corpus and amenity income banked and recorded.
• Expenditure vouching — every payment backed by bill, approval and bank trail.
• Fire-safety and capital spends — scrutinised separately; these are common leakage points.
• Bank & KYC hygiene — signatories match elected officers; governance-linked KYC.
• Statutory compliance — TDS, GST where applicable, society renewals.
• Member disclosure — audited statements presented at the AGM, not buried.

Written by our Chairman — a practising Chartered Accountant. Institutional framework guidance: ICAI.