CARO 2020 - Clause by Clause Professional Analysis (Companies Auditor’s Report Order, 2020)

Revised Framework | Clause by Clause Analysis | Greater Transparency

Features #CARO2020 #RevisedCARO #CAROAnalysis

This CARO will be applicable for an audit of financial statements of eligible companies for financial years commencing on and after April 1, 2019.
Auditors will have to provide detailed disclosures about loan defaults, amount of cash losses and immovable properties as well as other aspects about companies in their annual reports starting this financial year, with the government putting in place a stringent framework.

This would lead to greater transparency and faith in the financial affairs of the companies. This is automatically expected to result in greater inflow of investment by and in Indian companies, it added.

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