BusinessPhoto: MintCentre Introduces New Audit Framework for Multi-State Cooperative Societies
The Ministry of Cooperation has launched a new audit reporting framework called the Multi-State Co-operative Societies (Auditor's Report) Order, 2026 (MSCARO, 2026). This standardized system enables auditors to assess financial, administrative, governance, and statutory compliance aspects of multi-state cooperative societies. It aims to detect financial vulnerabilities early, safeguard members' funds, and improve regulatory oversight by reporting on NPAs, overdue loans, liquidity, deposits, advances, defaults, and borrowings.
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