KYC

KYC NORMS & CHECK LIST FOR MEMBERS WHILE AUDITING THE CO-OPERATIVES & NPOs SECTORS:

These Know Your Client (KYC) Norms are suggestive in nature. Members are advised to complete these formalities before starting work of any co-operatives and NPOs. Objective of these KYC Norms is that any member taking on new work with an NPO needs to be aware of the organization and its management to avoid any misrepresentation from client. Prima facie these information will help the member to protect himself in case of differences arise due to undisclosed information from client.

S No.

Particulars

Document Required

Obtained
(Yes / No)

1. Name of the Organization (Obtain Certificate of Incorporation / Registration as proof)
2. Deed of Registration a)      For Trust – Trust Deed
b)     For Sec 25 Companies- Memorandum and Articles of Association

c)      For Society -Society Registration Deed and copy of Bye Laws. (Along with latest amended copy, if any.)

3. List of Governing Body Members/Board of Directors a)      Governing Body  members/directors  based on minute book as certified by competent authority
b)     Detail of any delegation of authority
4. PAN details of organization and  Key Person Copy of Self-attested PAN Card
5. Details of main funding agencies and on-going projects Self-attested copy of contracts/agreement with funding agencies.
6. List of Bank Accounts a)      Complete list of bank accounts with number
b)     Copy of Bank Statement / Pass Book for the year.
7. Registration / Recognition with various Government Departments:-

Income Tax Act – 1961 (Sec-10, 12A, 80G etc.) Yes/No
TDS Yes/No
VAT Yes/No
Service Tax Yes/No
Excise Dept. Yes/No
Society Act – 1860 Yes/No
MSCS – 2002 Yes/No
Ministry of Home Affairs (FCRA) Yes/No
Other Act / Laws (Details) Yes/No (If yes, than Self-attested copy of Certificate / Letter)
8. Contingent Liabilities, if any. Contingent Liabilities as appearing in latest audited B/S along with current status on organization letter head by secretary/competent authority.
9. Previous Auditor a)      Name & Address of Previous Auditor (if change in auditor)
b)     Copy of last audited Balance Sheet