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Section 1

[(6) the multi-State co-operative society or class of multi-State co-operative societies, as the case may be, shall adopt such standards of auditing and accounting as may be determined by the Central Government:

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1 [(6) the multi-State co-operative society or class of multi-State co-operative societies, as the case may be, shall adopt such standards of auditing and accounting as may be determined by the Central Government: Provided that until such standards of auditing and accounting are specified, the auditing and accounting standards specified by the Institute of Chartered Accountants of India constituted by subsection (1) of section 3 of the Chartered Accountants Act, 1949 shall be deemed to be the standards of auditing and accounting: Provided further that the multi -State co -operative banks shall adopt the standards of accounting and auditing, if any, laid down by the Reserve Bank.]