In the last article, we dealt with the applicability of CARO 2020 and covered the practical aspects to be kept in mind companies and their auditors as they go about finalising their audit opinion on the consolidated financial statements for the year ending 31 March 2021. In this article, we deal with the reporting requirements related to assets. Maintaining full particulars of property, plant and equipment ('PPE')..
The Central Government issued the Companies (Auditor’s Report) Order, 2020, (CARO 2020/ “the Order”), initially applicable for audits of financial year 2019-20 and onwards. Subsequently, its applicability was deferred by one year and CARO 2020 is now applicable for audits of financial year 2021 and onwards. There is no significant change in applicability of the Order when compared to the earlier order, except that CARO 2020 applies to consolidated financial s..
Recently Ministry of Corporate Affairs has come out with Companies (Auditor's Report) Order, 2020; along with the increase in the scope of many clauses and insertion of new clauses, there is also deletion of an existing clause. ..
Here is how you can file CAR (Companies Affirmation of Readiness towards COVID-19)to confirm Companies readiness to deal with COVID-19...
Introduction 1. The Central Government, in exercise of the powers conferred, under subsection (11) of section 143 of the Companies Act, 2013 (hereinafter referred to as “the Act”), issued the Companies (Auditor’s Report) Order, 2020, (CARO, 2020/ “the Order”) vide Order No. S.O. 849(E) dated 25th February 2020. CARO, 2020 contains certain matters on which the auditors of companies (except auditors of those categories of companies which are specifically exempted under t..
Company auditor's report order (CARO) 2020..