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Jul 19, 2024 · Applicability of CARO 2020. CARO 2020 is applicable for all statutory audits commencing on or after 1 April 2021 corresponding to the financial year 2020-21. The order is applicable to all companies which were covered by CARO 2016. Thus, CARO 2020 applies to all the companies currently, including a foreign company.
Jan 8, 2021 · 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;
Mar 4, 2022 · CARO, 2020 shall apply to every company including a foreign company as defined in Sec. 2 (42) of the Companies Act, 2013, except: (i) a banking company; (ii) an insurance company; (iii) a company licensed to operate u/s 8 of the Companies Act;
year 2019-20 and onwards. Subsequently its applicability was deferred two times vide notification dated 24th March 2020 and 17th December 2020. CARO 2020 is applicable for audits of financial year 2021-22 and onwards. CARO 2020 contains several significant changes and several new reporting requirements vis-à-vis CARO 2016.
Oct 9, 2024 · Discover key updates on CARO applicability for F.Y. 2023-24 in India. Learn about auditor responsibilities, reporting requirements, and compliance changes.
Provisions of CARO are equally applicable in case of branches also, because under sec. 143(8), a branch auditor has same duties as of company auditor.
Feb 27, 2020 · CARO 2020 is applicable from FY 2019-20 and the matters specified therein shall be included in each report made by the auditor under Section 143 of the Companies Act, 2013 on the account of every company to which CARO 2020 applies.
