If Statutory Audit of a company for the FY 2013-14 is finalised recently(say 1st July, 2016). Will New Audit Report and CARO 2016 apply or Report of FY 2013-14 applies? Please help
CA Rohit Jain
(Practice)
(1865 Points)
Replied 19 July 2016
Every report made by the auditor under section 143 of the Companies Act, 2013 on the accounts of every company audited by him, to which this Order applies, for the financial years commencing on or after 1st April, 2015.
Hence in my view CARO 2016 is not applicable for the reports issued for the period before 1st April 2015
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