ICAI | Applicability of CARO 2016 for May 2021 Intermediate Examinations

Last updated: 13 February 2021

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The Institute of Chartered Accountants of India (ICAI) has announced that the Companies (Auditor's Report) Order, 2016 (CARO 2016) will be applicable for the May 2021 examinations. This is due to the Ministry of Corporate Affairs deferring the applicability of CARO 2020. Therefore, CARO 2020 will not be applied to the upcoming IPCC, Intermediate, and Final examinations.

Students may note that Companies (Auditor’s Report) Order, 2016 issued by Ministry of Corporate Affairs would be applicable for May 2021 Examination, since the applicability of Companies (Auditor's Report) 2020 has been deferred by Ministry of Corporate Affairs. Read the official announcement below:

CARO 2016 Applicable for May 2021 ICAI Exams

Important Announcement for IPCC/Intermediate & Final Students
Applicability of CARO 2016 for May 2021 Examinations

This is to bring to the attention of the students that since applicability of Companies (Auditor's Report) 2020 has been deferred by Ministry of Corporate Affairs, accordingly, Companies (Auditor’s Report) Order, 2020 is not applicable for the IPCC, Intermediate, Final (Old) and Final (New) examinations to be held in May 2021. Students may note that Companies (Auditor’s Report) Order, 2016 issued by Ministry of Corporate Affairs would be applicable for May, 2021 Examination.

Director,
Board of Studies

FAQ :

Companies (Auditor's Report) Order, 2016 (CARO 2016) is applicable for the May 2021 examinations.

The Ministry of Corporate Affairs has deferred the applicability of Companies (Auditor's Report) Order, 2020.

Yes, CARO 2016 is applicable for the Intermediate examinations to be held in May 2021.

Yes, CARO 2020 is not applicable for IPCC, Final (Old), and Final (New) examinations scheduled for May 2021, with CARO 2016 being applicable instead.

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