CARO 2020 applicability deferred by One Year: MCA [Read Notification]

CARO 2020 - MCA - Companies (Auditor’s Report) Second Amendment Order - Taxscan

The Ministry of Corporate Affairs (MCA) has deffered the applicability of the notified the Companies (Auditor’s Report) Order (CARO) 2020, till 1st April, 2021.

The notification seeks to amend the Companies (Auditor’s Report) Order, 2020.

In the Companies (Auditor’s Report) Order, 2020, in paragraph 2, for the figures, letters and word “1st April, 2020”, the figures, letters and word “1st April, 2021” shall be substituted.

The Companies (Auditor’s Report) Order, 2020 is applicable for all statutory audits commencing on or after 1 April 2021.

The Companies (Auditor’s Report) Order, 2020 is a new format for issue of audit reports in case of statutory audits of companies under Companies Act, 2013. It has included additional reporting requirements after consultations with the National Financial Reporting Authority (NFRA). NFRA is an independent regulatory body for regulating the audit and accounting profession in India. The aim is to enhance the overall quality of reporting by the company auditors.

Subscribe Taxscan Premium to view the Judgment
taxscan-loader