Ministry of Cooperation Notifies MSCARO 2026, a Risk-Based Audit Reporting Order for Multi-State Cooperatives
The Ministry of Cooperation has issued the Multi-State Co-operative Societies (Auditor's Report) Order, 2026 (MSCARO 2026), a standardised, risk-based audit-reporting framework for multi-state cooperative societies, under Section 73(6) of the Multi-State Co-operative Societies (Amendment) Act, 2023. It extends to cooperatives the company-audit discipline of CARO, requiring auditors to report in a uniform format on fixed assets, loans, statutory dues and internal controls. Phase 1 applies to societies with over Rs 1,000 crore in relevant financial parameters, with later phases covering those above Rs 50 crore. The Ministry of Cooperation was carved out in July 2021 under Amit Shah.