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The previous and the present CARO is placed side by side for easy reference.  Please note that CARO will not be applicable for certain categories of Companies as stated in the order.

Companies (Auditor's Report) Order, 2003

Companies (Auditor's Report) Order, 2015

Remarks

  • Banking Company
  • Insurance Company,
  • Sec 25 Company
  • Private Companies whose :
  1. Paid up capital and reserves not more than Rs.50 lakhs
  1. Has not accepted any public deposits.
  1. Does not have loan outstanding Rs 10 lacs or more from any bank or financial institution.
  1. Does not have a turnover exceeding Rs 5 Crores.
  • Small Company
  • Banking Company,
  • Insurance Company,
  • Section 8 Company,
  • Private Companies whose

1.Paid up capital and reserves not more than Rs.50 lakhs.

2. Does not have loan outstanding exceeding Rs.25 lacs from any bank or financial institution

3.      Does not have a turnover exceeding Rs.5 crores 

( At any point of time during the financial  year )

Small Company : Section 2(85) defines a small company as a company other than a public company

  • ·         Paid-up share capital of which does not exceed fifty lakh rupees or such higher amount as may be prescribed which shall not be more than five crore rupees;

AND (  or has been changed to “and” vide RoD 13 Feb 2015  )

  • ·         turnover of which as per its last profit and loss account does not exceed 2 crore rupees or such higher amount as may be prescribed which shall not be more than twenty crore rupees:

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Category Audit, Other Articles by - CA Sripriya K 



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