Home Scam/Fraud ‘Co-op society audits will be transparent’ | Thiruvananthapuram News

‘Co-op society audits will be transparent’ | Thiruvananthapuram News

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Thiruvananthapuram: Cooperation minister V N Vasavan said in the assembly that the government is in the process of setting up audit monitoring and information systems to make public the details of the audit of cooperative societies. C-Dit has been asked to develop this system and they are in the process, he added.
The government has decided to strengthen the vigilance wing of the cooperative department and also to bring in necessary changes in the cooperative laws to put an end to corruption, Vasavan said.
The government is in the process of appointing an officer from the Indian Audit and Accounts Service in the post of cooperative audit director. The minister said that all these steps are being taken in the wake of the Karuvannur bank scam. A three-member committee has already been constituted to suggest amendments in cooperative laws to curb irregularities.
In the AR Nagar bank fraud, it has been detected that the KYC guidelines…

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