CARO

Format of CARO 2020

Company Law - Duly updated till date (containing CARO New Format, Sch III New Requirements, Board Reports Format, Management Representation Letter, AS requirements for Corporates / Non-Corporates, Audit Program, Audit Report Format etc.) All Suggestions for its improvement are highly welcome. FORMAT OF CARO 2020 (STANDARD UNQUALIFIED VERSION) Annexure ...

Read More

Brief History of CARO & Applicability/Coverage of CARO 2020

Company Law - Companies (Auditor’s Report) Order i.e. CARO was first introduced in 1988, when central government first introduced Manufacturing and Other Companies (Auditor’s Report) order 1988, which later replaced by CARO 2003, CARO 2004, CARO 2015, CARO 2016 and now with CARO 2020....

Read More

CARO 2020 Reporting: Detailed Disclosures

Company Law - Ministry of Corporate Affairs vide its Order Dated 25.02.2020 has issued the Companies (Auditor’s Report) Order, 2020 applicable from 01.04.2019 in suppression of the CARO 2016, applicability of which has been extended on 24.03.2020, to be applicable from 01.04.2020. However, the said order has further extended by one year vide order da...

Read More

Changes in Company Audit Report for Financial Year ending on March 31, 2022

Company Law - An auditor is responsible to form an opinion on books of accounts of an entity, which is subject to audit. The objective of audit is to find whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. […]...

Read More

CARO 2020-Key changes and disclosure requirement

Company Law - Introduction:             The Central Government, in exercise of the powers conferred, under sub-section (11) of section 143 of the Companies Act, 2013 (Act), issued the Companies (Auditor’s Report) Order, 2020, (CARO 2020/Order) vide Order number S.O. 849(E) dated 25th February 2020 and was subsequently amended vide number S...

Read More

Exposure Draft of Revised Guidance Note on CARO 2020

Company Law - Exposure Draft of Revised Guidance Note on CARO 2020 issued by the Auditing and Assurance Standards Board of ICAI The Auditing and Assurance Standards Board (AASB) of the ICAI had issued the ‘Guidance Note on the Companies (Auditor’s Report) Order, 2020‘ (Guidance Note on CARO 2020) in July 2020 to provide detailed guidance ...

Read More

Implementation Guide on Reporting under Rule 11(e) & 11(f) of Companies (Audit and Auditors) Rules, 2014

Company Law - Implementation Guide on Reporting under Rule 11(e) and Rule 11(f) of the Companies (Audit and Auditors) Rules, 2014 The Ministry of Corporate Affairs vide notification dated March 24, 2021 issued the Companies (Audit and Auditors) Amendment Rules, 2021. Pursuant to this notification, several changes have been made in Rule 11 of the Compan...

Read More

CARO 2016 applicable for November 2021 CA IPCC /Intermediate/Final Exams

Company Law - This is to bring to the attention of the students that Companies (Auditor’s Report) Order, 2016 issued by Ministry of Corporate Affairs would be applicable for the IPCC (Opted out), Intermediate, Final (Old - Opted out ) and Final (New) examinations to be held in November 2021s....

Read More

CARO 2020 not applicable for May 2021 CA Examinations

Company Law - Companies (Auditor’s Report) Order, 2020 is not applicable for the IPCC, Intermediate, Final (Old) and Final (New) examinations to be held in May 2021....

Read More

MCQs on Guidance Note on Companies (Auditor’s Report) Order, 2020

Company Law - MCA issued Companies (Auditor’s Report) Order, 2020 (CARO 2020) on 25th February 2020. CARO 2020 would be applicable for audits of financial year 2020-21 and onwards. CARO 2020 contains several significant changes and several new reporting requirements vis-à-vis CARO 2016....

Read More
Sorry No Post Found

MCA deffers Applicability of CARO 2020 to FY 2021-22

Notification No. S.O. 4588(E) - (17/12/2020) - MCA vide order dated 17.12.2020 has changed the applicability date of Companies (Auditor’s Report) Order, 2020 to the financial years commencing on or after the 1st April, 2021. So, Companies (Auditor’s Report) Order, 2020 (CARO 2020) will be applicable from FY 2021-22. CARO 2016 will continue t...

Read More

MCA defers applicability of CARO 2020 to 1st April 2020 (FY 2020-21)

Notification No. S.O. 1219(E) - (24/03/2020) - MCA has vide its order dated 24th March 2020 announced that CARO 2020 will applies, for the financial years commencing on or after the 1st April, 2020 instead of financial years commencing on or after the 1st April, 2019. Decision is been take considering recent Outbreak of Corona Virus. GOVERNMENT ...

Read More

CARO’s Popular Posts

Recent Posts in "CARO"

Statutory Audit Manual 2021-22 under Companies Act, 2013

Articles contains Updated CARO New Format, Schedule III New Requirements, Board Reports Format, Management Representation Letter, AS requirements for Corporates / Non-Corporates, Audit Program, Audit Report Format etc. AUDIT MANUAL SMALL & MEDIUM ENTERPRISES (Contains Format of CARO 2020, Additional Requirements of Schedule III) 2021-...

Read More
Posted Under: Company Law |

Format of CARO 2020

Duly updated till date (containing CARO New Format, Sch III New Requirements, Board Reports Format, Management Representation Letter, AS requirements for Corporates / Non-Corporates, Audit Program, Audit Report Format etc.) All Suggestions for its improvement are highly welcome. FORMAT OF CARO 2020 (STANDARD UNQUALIFIED VERSION) Annexure ...

Read More
Posted Under: Company Law |

Brief History of CARO & Applicability/Coverage of CARO 2020

Companies (Auditor’s Report) Order i.e. CARO was first introduced in 1988, when central government first introduced Manufacturing and Other Companies (Auditor’s Report) order 1988, which later replaced by CARO 2003, CARO 2004, CARO 2015, CARO 2016 and now with CARO 2020....

Read More
Posted Under: Company Law |

Exposure Draft of Revised Guidance Note on CARO 2020

Exposure Draft of Revised Guidance Note on CARO 2020 issued by the Auditing and Assurance Standards Board of ICAI The Auditing and Assurance Standards Board (AASB) of the ICAI had issued the ‘Guidance Note on the Companies (Auditor’s Report) Order, 2020‘ (Guidance Note on CARO 2020) in July 2020 to provide detailed guidance ...

Read More
Posted Under: Company Law |

CARO 2020 Reporting: Detailed Disclosures

Ministry of Corporate Affairs vide its Order Dated 25.02.2020 has issued the Companies (Auditor’s Report) Order, 2020 applicable from 01.04.2019 in suppression of the CARO 2016, applicability of which has been extended on 24.03.2020, to be applicable from 01.04.2020. However, the said order has further extended by one year vide order da...

Read More
Posted Under: Company Law |

Changes in Company Audit Report for Financial Year ending on March 31, 2022

An auditor is responsible to form an opinion on books of accounts of an entity, which is subject to audit. The objective of audit is to find whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. […]...

Read More
Posted Under: Company Law |

CARO 2020-Key changes and disclosure requirement

Introduction:             The Central Government, in exercise of the powers conferred, under sub-section (11) of section 143 of the Companies Act, 2013 (Act), issued the Companies (Auditor’s Report) Order, 2020, (CARO 2020/Order) vide Order number S.O. 849(E) dated 25th February 2020 and was subsequently amended vide number S...

Read More
Posted Under: Company Law |

Comparative summary of CARO 2016 vs CARO 2020

Companies (Auditor’s Report) Order, 2020 The Companies Act, 2013 requires auditors of specified class of companies to include a statement in their reports on specific matters as prescribed in the Companies (Auditor’s Report) Order (CARO). In 2020, the Ministry of Corporate Affairs (MCA) issued a revised CARO (CARO 2020) which is appli...

Read More
Posted Under: Company Law |

How to determine Cost Audit & Cost Records Maintenance applicability for reporting in Director’s Report & CARO

All of us have started experiencing the heat towards the compliance mechanisms being put up by the statutory/regulatory authorities. As the Cost Records and GST records both use the HSN codes for reporting purposes, leniency in the maintenance of cost records or missing out on getting the cost audit conducted can cost a lot to the organis...

Read More
Posted Under: Company Law |

Implementation Guide on Reporting under Rule 11(e) & 11(f) of Companies (Audit and Auditors) Rules, 2014

Implementation Guide on Reporting under Rule 11(e) and Rule 11(f) of the Companies (Audit and Auditors) Rules, 2014 The Ministry of Corporate Affairs vide notification dated March 24, 2021 issued the Companies (Audit and Auditors) Amendment Rules, 2021. Pursuant to this notification, several changes have been made in Rule 11 of the Compan...

Read More
Posted Under: Company Law |

Browse All Categories

CA, CS, CMA (6,069)
Company Law (8,348)
Corporate Law (10,098)
Custom Duty (9,262)
DGFT (4,802)
Excise Duty (4,746)
Fema / RBI (5,194)
Finance (5,597)
Income Tax (41,536)
SEBI (4,482)
Service Tax (3,981)

Search Posts by Date

July 2022
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031