Jammu, Aug. 11 -- Jammu and Kashmir has one of the highest numbers of unaudited functional cooperative societies in the country, with 5,138 societies yet to undergo audit, according to data placed before the Lok Sabha on Tuesday.
The figures, provided by the Ministry of Cooperation in response to an Unstarred Question by Lok Sabha member Rajesh Ranjan, show that out of 9,132 functional cooperative societies in Jammu and Kashmir, only 3,994 have been audited, leaving 5,138 societies-more than 56 per cent-unaudited.
The data assumes significance amid concerns over financial irregularities, weak management and the lack of timely audits in cooperative institutions, which play an important role in providing credit, agricultural services and ot...