Description
Taxmann Publications CARO 2020 A Para-wise Commentary on Companies (Auditor’s Report) Order 2020 by Srinivasan Anand G
This book provides a para-wise commentary on Companies (Auditor’s Report) Order. It is a complete guide on the applicability and the matters that need to be reported by an Auditor on CARO.
This book is divided into three divisions:
CARO Reporting under CARO, 2020 (Applicable from Financial Year 2021-22)
CARO Report on Consolidated Financial Statements under CARO, 2020
CARO Reporting under CARO, 2016 (Applicable for Financial Year 2021-22)
This book will be helpful for Auditors
The Present Publication is the 8th Edition, amended up to 30th June 2021, authored by CA Srinivasan Anand G., with the following noteworthy features:
[FAQs & Case Studies]
CARO 2016
CARO 2020
[Amended Schedule II] Related disclosure requirements
[Clause-wise Ready Reckoner] on CARO 2020
Review of earlier versions of CARO to do a quick comparison(s)
[In a Nushell] CARO 2020
Relevant Provisions of Companies Act, 2013
The contents of this book are as follows:
CARO Reporting under CARO, 2020 (Applicable from Financial Year 2021-22)
Introduction
Additional Regulatory Information Disclosure Requirements of Schedule III vis-a-vis CARO, 2020
Applicability of CARO, 2020
Property, Plant and Equipment
Intangible Assets
Title Deeds of all Immovable Properties Disclosed in Accounts
Proceedings Pending against the Company for Holding Benami Property
Inventory
Quarterly Statements Submitted to Banks/FIs by Companies Enjoying Sanctioned Working Capital Limits
Loans or Advances in the Nature of Loans or Guarantees or Security Provided to, or Investments made in, Other Entities
Reporting on Compliance with Sections 185 and 186 as Regards Loans, Investments, Guarantees and Securities
Acceptance of Public Deposits and Deemed Deposits
Maintenance of Cost Records
Payment/Non-Payment of Statutory Dues
Transactions not Recorded in the Books and Surrendered or Disclosed as Income in Tax Assessment
Company Defaults in Repayment of Loans/Other Borrowings/in Payment of Interest to any Lender
End use of Term Loans
‘Asset-Liability Maturity Mismatch’ - Use of Short-Term Funds for Long Term Purposes
Funds Taken from Other Entities by Company to Meet Obligations of Subsidiaries, Associates or JVs
Whether Company has Raised Loan on Pledge of Securities in Subsidiaries, Associates or JVs
End Use of Moneys Raised by Way of IPO/FPO
Private Placement/Preferential Allotment of Shares/FCDs/PCDs/OCDs
Frauds Noticed/Reported
Reporting of Compliances by Nidhi Companies
Related Party Transactions
Internal Audit
Non-Cash Transactions Involving Directors or Connected Persons
Registration of NBFCs U/S 45-IA of RBI Act, 1934
Whether Company has Incurred Cash Loss
Resignation of Statutory Auditors
Material Going Concern Uncertainty
Transfer of Unspent CSR Funds
Reasons to be Stated by Auditor for Qualified or Adverse Remarks
in CARO Report
CARO Report on Consolidated Financial Statements under CARO, 2020
Qualified/Adverse Remarks in CARO Reports of Companies Included in Consolidated Financial Statements
CARO Reporting under CARO, 2016 (Applicable for Financial Year 2021-22
Applicability of CARO, 2016
Fixed Assets/PPE
Title Deeds of Immovable Properties
Inventory
Loans to Parties Covered under Section 189
Reporting on Compliance with sections 185 and 186 as regards loans, investments, guarantees and securities
Acceptance of Deposits by Company
Maintenance of Cost Records
Payment/Non-Payment of Statutory Dues
Default in Repayment to Banks/FIs/Govt. Debenture Holders
End use of Monies Raised by Way of IPO/FPO/Term Loans
Frauds Noticed/Reported
Managerial Remuneration
Reporting on Compliances by Nidhi Company
Related Party Transactions
Private Placement/Preferential Allotment of Shares/FCDs/PCDs
Non-Cash Transactions Involving Directors or Connected Persons
Registration of NBFC under Section 45-IA of RBI Act, 1934
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About the author
Srinivasan Anand G.
Srinivasan Anand G is a Practicing Chartered Accountant. He has qualified in the exams of all three premier professional institutes, i.e. ICAI, ICWAI & ICSI.
He is associated as a guest faculty with various institutes such as Regional Training Institute, Comptroller & Auditor General of India, Western Coalfields Ltd., Punjab National Bank, Zonal Training Centre. He has also spoken at Study Circle Meetings organized by the Nagpur Branch of ICAI.