Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Caro

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Follow Query Ask a Query

vivek

vivek (Querist)
Follow

09 August 2013 Please give me a brief explanation about CARO.

Ganeshbabu K

Ganeshbabu K (Expert)
Follow

26 August 2013 1)This order may be called the Companies (Auditor’s Report) Order, 2003.

2)It shall apply to every company including a foreign company as defined in section 591 of the Act, except the following :—

(i)a Banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949);

(ii)an insurance company as defined in clause (21) of section 2 of the Act;

(iii)a company licensed to operate under section 25 of the Act; and

(iv) a private limited company with a paid-up capital and reserves not more than fifty lakh rupees and does not have loan outstanding exceeding Rupees Twenty Five lakhs from any bank or financial institution and does not have a turnover exceeding five crores rupees at any point of time during the financial year

3)It shall come into force on the 1st day of July, 2003.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now