Caro 2003

No CARO 2003 is not applicable as per Companies Act 2013. 

Reason:

Sec 227(4A) of Co. Act 1956 gives the power to CG for matters to be included in Audit Report by general or Special order. For this Corresponding Rules had been made, First in 1988 & then amended in 2003

However Sec 227 has been repelaed by new provision Sec 143 and corresponding provision for making an general or special order like CARO  is contained in sec 143(11) which is not till date excercised by CG.

Hence CARO 2003 is not applicable for F.Y .2014-15 and onwards untill CG excercise power confered under Sec 143(11)  

Reports will be preapred without CARo and there is not need to mention in audit report in Heading Regulatory and other requirements for making reference for CARO 2003