After a long wait, MCA has notified the Companies (Auditorâ€™s Report) Order, 2015 (CARO) on 10th April, 2015. There was a lot of debate amongst professionals as to whether CARO will be applicable for the audit of the financial year 2014- 15. MCA has finally ended the debates by notifying CARO.
For ease of understanding I have prepared Clausewise Comparison of CARO 2015 vis-a-vis CARO 2003. #docx