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 MoreCompany 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 MoreCompany 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 MoreCompany 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 MoreCompany 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 MoreCompany 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 MoreCompany 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 MoreCompany 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 MoreCompany 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 MoreCompany 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 MoreNotification 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 MoreNotification 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 ...
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