Taxmann's CARO 2020

Be the First to Review
Specifications
Additional FeaturesThis 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, supplemented by Clause-wise Ready Reckoner, FAQs, Case Studies, in a Nutshell, etc. PublisherTaxmann Publication ISBN9788195371433 AuthorSrinivasan Anand G. LanguageEnglish BindingPaperback Publication DateJuly 2021 No. of Pages752
Description

Description

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

Srinivasan Anand G.

Srinivasan Anand Gis 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.