ICAI to issue guidance note on new audit reporting framework for multi-state cooperative societies

ICAI is set to release a guidance note on the new audit reporting framework for multi-state cooperative societies. The cooperation ministry published the Multi-State Co-operative Societies (Auditor's Report) Order, 2026, on October 14. This initiative aims to enhance financial oversight and risk detection in the cooperative sector. Auditors will need to follow a structured approach in reporting various compliance parameters.