14 May 2011
For a limited company under the Companies Act, 1956 there are two consequences. If the norms of Companies Audit Report Order i.e. CARO are applicable, the report is to be submitted in that format only. If CARO is not applicable, then the short format of that report is sufficient. No need to inform the details as required by CARO in annexures.
For a partnership firm and LLP there is no statutory audit applicable. So, the auditor can decide in what form to report or it may depend upon the audit engagement regarding the reporting part.