CARO - Page 7

Detailed comparison of CARO 2016 with CARO 2020

The CARO, 2020 is applicable for an audit of financial statements of eligible companies for the financial years commencing on or after the 1st April 2019. The criteria of eligibility of companies on which the CARO, 2020 shall be applicable has not been changed and hence it shall be applicable to all those companies on which CARO, 2016 was...

Posted Under: Company Law |

February 2020- Monthly Statutory updates

The monthly Newsletter – encompasses MCA notifications issued in the month of February 2020, informal Guidances given by SEBI on  SEBI SBEB , Takeover and Insider Trading Regulations and NCLT judgement in Videocon Insolvency case. Independent Directors who could not get themselves registered on IICA databank can rest easy. The deadlin...

Posted Under: Company Law |

CARO 2020 – Change in Reporting with Change in Vision

The MCA has issued the Companies (Auditor’s Report) Order, 2020 (CARO 2020), on 25th February 2020 in supersession of the Companies (Auditor’s Report) Order, 2016. Applicable from: Audit of financial statements for the financial year commencing on or after 1st April 2019. Based on the government’s objective to strengthen the...

Posted Under: Company Law |

Comparison of Caro, 2016 and Caro, 2020

Article compares Companies (Auditor’s Report) Order, 2016 (CARO 2016) with recently notified   Companies (Auditor’s Report) Order, 2020 (CARO 2020). Sr.No Particulars Companies (Auditor’s Report) Order, 2016 Companies (Auditor’s Report) Order, 2020 Changes in Nutshell Applicability For the financial year commencing o...

Posted Under: Company Law |

Companies (Auditor’s Report) Order 2020 (CARO 2020)

In order to bring more transparency & faith in Financials statements of companies, The ministry of corporate affairs introduce the new set of Companies (Auditor’s Report) Order, 2020. In contrast with CARO 2016, Now the Auditor have to report more disclosures on core aspects of financials statement such as: loan defaults, cash l...

Posted Under: Company Law |

Companies (Auditor’s Report) Order, 2020 (CARO 2020)

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–...

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