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APPLICABILITY OF CARO, 2020 PARAS 1 AND 2 OF CARO, 2020 In exercise of the powers conferred by sub-section (11) of section 143 of the Companies Act, 2013 (18 of 2013 ) and in supersession of the Companies (Auditor’s Report) Order, 2016, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-sec -
Dec 19, 2020 · 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 Affairs vide Order dated 17.12.2020 has extended the applicability date of Companies (Auditor’s Report) Order, 2020 for one more year, i.e. for the financial years commencing on or after the 1st April, 2021.
Jan 08, 2021 · Non-Applicability of CARO, 2020. CARO, 2020 shall apply to every company including a foreign company as defined in clause (42) of section 2 of the Companies Act, 2013, except– (i) a banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949; (ii) an insurance company as defined under the Insurance Act,1938;
Jul 25, 2021 · Applicability. The CARO 2020 is applicable to same companies as the CARO 2016 was applicable to. There is no change in applicability to categories of companies. Key Updates and points in applicability:-Change in definition of Small company as under section 2(85) of the companies act 2013 :-1.
- Details of tangible and intangible assets. Whether the records maintained by the company display the complete particulars on the details, quantity and situation of tangible and intangible assets.
- Details of inventory and working capital. Whether the management has carried out physical verification of inventory at reasonable intervals. If any discrepancies of 10% or more in the aggregate for each class of inventory were noticed and if so, whether they have been properly dealt with in the books of accounts.
- Details of investments, any guarantee or security or advances or loans given. If the company has during the year made any investments in, given any guarantee or security or granted any loans or advances which are characterised as loans, unsecured or secured, to LLPs, firms or companies or any other person.
- Compliance in respect of a loan to directors. If the company has given any loans to directors or any other person in whom the director is interested, or made any investments, whether the company has made compliance with the provisions governing such loans, investments and guarantees.