The Institute of Chartered Accountants of India (ICAI) has announced a further extension for the applicability of the Companies (Auditor’s Report) Order, 2020 (CARO 2020). The Ministry of Corporate Affairs (MCA) has extended the date to 1st April 2021. This means CARO 2020 will now be applicable for financial years commencing on or after 1st April 2021, pushing its implementation to FY 2021-22 and onwards.
The Institute of Chartered Accountants of India has made an announcement regarding the further extension on the applicability of CARO 2020 to 1st April 2021, made by the MCA. Read the official announcement below:
Corporate Laws Corporate Governance Committee
The Institute of Chartered Accountants of India
19th December, 2020
ANNOUNCEMENT
CARO, 2020
Further extension for applicability by one year, i.e. up to 1st April, 2021.
This is to inform you that the Ministry of Corporate A
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FAQ :
CARO 2020 refers to the Companies (Auditor’s Report) Order, 2020.
The applicability date for CARO 2020 has been extended to 1st April 2021.
CARO 2020 will be applicable from the financial year 2021-22 onwards.
The extension was announced by the Ministry of Corporate Affairs (MCA) via an order dated 17.12.2020, and communicated by the Institute of Chartered Accountants of India (ICAI).
Yes, the announcement indicates a 'further extension', suggesting previous postponements.