Company Law - 1. Reporting for Property + Plant + Equipment (PPE) + Intangible Assets (all) (a) Maintaining of records for PPE + Intangible assets (both) (Clause 3(i) of CARO) (A) Whether company maintaining proper records for showing 100% particulars + quantitative details + also situation of PPE (all) ? + (plus) (B) Whether company maintaining prope...
Company Law - Audit Manual for SMALL & MEDIUM ENTERPRISES (SME) for Financial Year 2022-2023 Audit manual contains details of Key Changes, Applicability of Accounting Standards to Companies (Changes with effect from 23.06.2021), Applicability of Accounting Standards to Non-Corporate Entities (with effect from 01.02.2022), Format of Audit Program...
Company Law - Introduction: The Company Auditor’s Report Order (CARO) holds immense significance in the realm of corporate reporting as it serves as a critical tool for ensuring transparency and accountability in financial statements. CARO provides guidelines and requirements for auditors while preparing the auditor’s report for companies. ...
Company Law - Format of CARO (Companies Auditor’s Report Order), 2020 Annexure to the independent auditor’s report of even date to the members of xyz private limited, on the financial statements for the year ended 31st march 2022 Based on the audit procedures performed for the purpose of reporting a true and fair view on the financial statement...
Company Law - Internal Audit:- The Internal Audit helps the organization to accomplish its objectives by bringing a systematic, discipline approach to evaluate and improve the effectiveness of risk management, control and governance processes. Internal Audit will help to identify the areas of concern and present them to the management in a balanced way...
Company Law - Guidance Note on the Companies (Auditor’s Report) Order, 2020 (CARO 2020) to provide detailed guidance on reporting requirements of 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 ...
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...
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....
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....
Circular No. NF-25013/2/2023 - (26/06/2023) - NFRA issued a circular highlighting statutory auditors' obligations to report fraud in accordance with Companies Act, 2013. Circular emphasizes consequences for auditors who fail to fulfill their reporting duties and clarifies that resignation does not absolve them of their responsibilities....
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...
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 ...
Notification No. S.O. 849(E). - (25/02/2020) - (1) This Order may be called the Companies (Auditor's Report) Order, 2020. (2) It shall apply to every company including a foreign company as defined in clause (42) of section 2 of the Companies Act, 2013 (18 of 2013) [hereinafter referred to as the Companies Act], except–...
Circular No. NF-25013/2/2023 - 26/06/2023