Company Law : Learn about CARO, 2020 guidelines for reporting loans, guarantees, security, and investments by companies to ensure compliance and...
Company Law : Ensure compliance with updated Reporting on Audit Trail under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 for 202...
CA, CS, CMA : Explore the significance of SA 570 in financial audits, focusing on the going concern basis, auditor responsibilities, risk assess...
Company Law : Get answers to 21 FAQs on the Companies Auditor Report Order (CARO) 2020 in India. Understand reporting requirements, compliance, ...
Company Law : Unlock the insights of the Audit Manual tailored for Small & Medium Enterprises (SME) for the Financial Year 2022-2023. Navigate t...
Company Law : Guidance Note on the Companies (Auditor’s Report) Order, 2020 (CARO 2020) to provide detailed guidance on reporting requirement...
Company Law : Exposure Draft of Revised Guidance Note on CARO 2020 issued by the Auditing and Assurance Standards Board of ICAI The Auditing and...
Company Law : Implementation Guide on Reporting under Rule 11(e) and Rule 11(f) of the Companies (Audit and Auditors) Rules, 2014 The Ministry o...
CA, CS, CMA : This is to bring to the attention of the students that Companies (Auditor’s Report) Order, 2016 issued by Ministry of Corporate ...
CA, CS, CMA : Companies (Auditor’s Report) Order, 2020 is not applicable for the IPCC, Intermediate, Final (Old) and Final (New) examinations ...
Company Law : NFRA issued a circular highlighting statutory auditors' obligations to report fraud in accordance with Companies Act, 2013. Circu...
Company Law : MCA vide order dated 17.12.2020 has changed the applicability date of Companies (Auditor’s Report) Order, 2020 to the financial ...
Company Law : MCA has vide its order dated 24th March 2020 announced that CARO 2020 will applies, for the financial years commencing on or after...
Company Law : (1) This Order may be called the Companies (Auditor's Report) Order, 2020. (2) It shall apply to every company including a foreign...
Explore CARO 2020 Reporting with detailed disclosures applicable from the financial year 2021-22. Understand the auditor’s role in reporting on crucial aspects, from property management to compliance checks. Stay informed with our comprehensive guide.
Understanding the changes in the company audit report for the financial year ending on March 31, 2022. Stay informed about the latest auditing standards and reporting requirements.
Stay ahead with key changes in CARO 2020! Uncover reporting requirements for property, plant, and equipment, inventory, loans, investments, guarantees, and more. Understand the applicability and exemptions. Delve into compliance with Sections 185 and 186, deposits, cost records, and statutory dues. Get insights into unrecorded income, defaults in repayments, and term loan usage. Navigate through the detailed reporting requirements under each clause for a comprehensive understanding.
O 2020 introduces new clauses and enhances reporting requirements compared to CARO 2016. Key changes include reporting on material uncertainty around liabilities, adequacy of internal audit, whistle-blower system, and more. Despite increased reporting, CARO 2020’s applicability remains similar to CARO 2016. This comparative summary details the changes in each clause, helping you navigate the updated requirements for a comprehensive audit.
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 organisations.
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 Companies (Audit and […]
Summary of reporting requirements under CARO 2020 and Summary of disclosures requirements under Schedule III to the Companies Act, 2013 – Article summarises interplay of some of the clauses in CARO 2020 and consequential amendments to Schedule III to the Companies Act, 2013.
1. Reporting for Property, Plant and Equipment (PPE) and Intangible Assets CARO-2020 – Clause 3(i) for maintaining of records for PPE and Intangible assets (a) (A) Whether the company is maintaining proper records showing full particulars, including quantitative details and situation of PPE ? (B) Whether the company is maintaining proper records showing full particulars […]
1. Amendment for use of Accounting Software having Audit Trail (i) Now all companies are “mandatory” required to use accounting software having audit trail of each transaction besides the original transactions were rectified or deleted. This requirement is applicable from April 01, 2021. (ii) Applicability of this provision is deferred for 1 year, hence it […]
Companies Auditor’s Report Order 2020 brings more enhanced reporting disclosures which will provide more accurate insights to the business with completeness and accuracy providing the stakeholders knowledge about operational and financial position of the company. Such enhanced disclosures will provide foreshadow about corporate failures before the actual collapse Onus of comprehensive disclosure lies on both […]
