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कंपनी ऑडिट रिपोर्ट प्रकाश आदेश 2020 के अनुपालन की तिथि टली

कंपनी ऑडिट रिपोर्ट प्रकाश आदेश 2020 के अनुपालन की तिथि टली
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Corporate affairs ministry defers implementation of CARO order

The government has deferred implementation of the strict disclosure requirements for auditor reports of companies by one year, a move that comes amid the disruptions caused by the coronavirus pandemic. Now, the Companies (Auditor s Report) Order, 2020 would come into effect from financial years commencing on or after April 1, 2021, according to a notification issued by the corporate affairs ministry. The ministry is implementing the companies law. Sanjeev Singhal, Partner at S R Batliboi and Co LLP, said the coronavirus pandemic has caused significant disruptions forcing the companies to focus on ensuring business continuity. Deferral of CARO 2020 by one year will give the much-needed relief to companies and they will be able to use the additional time to prioritise allocation of resources and better prepare for the enhanced requirements. It will be equally helpful for the auditors as well, Singhal said.

Compliance with new rules for audit reports deferred to next financial year

The Ministry of Corporate Affairs has deferred the implementation of Company Auditor’s Report Order (CARO) 2020, which brought about important disclosure requirements, by a year to April 2022 a government notification said. This is the second time that the government has pushed the deadline for compliance of the CARO 2020. At the start of the first lockdown in March, MCA had deferred CARO 2020 implementation to 2020-21, keeping in mind auditing challenges during the pandemic such as physical verification of inventory, fixed assets, balance confirmations, fair value measurements, expected credit losses, going concern and impairment. Covid-19 has caused significant disruptions forcing the companies to focus on ensuring business continuity. Deferral of CARO ‘2020 by one year will give the much needed relief to companies and they will be able to use the additional time to prioritise allocation of resources and better prepare for the enhanced requirements. It will be equally h

MCA defers CARO 2020 applicability date by a year - The Hindu BusinessLine

MCA defers CARO 2020 applicability date by a year K.R.Srivats New Delhi | Updated on December 20, 2020 The Corporate Affairs Ministry (MCA) has deferred the applicability date by one year, for the Companies Auditors Report Order (CARO) 2020 which had placed more onus on statutory auditors as regards fulfilling their professional responsibilities. CARO 2020 was the overhauled auditor’s report that was to accompany balance sheets of companies for financial year commencing on or after April 1, 2020 (FY 20-21). Now with the latest MCA move, CARO 2020 will be applicable for financial years commencing on or after April 1, 2021. The new reporting regime of CARO 2020–which was introduced by MCA in consultation with National Financial Reporting Authority in February this year had superseded CARO 2016. Under the new regime, an auditor was required to report/certify several details which was so far not required to be certified. As many as 21 items required detailing in the new CARO

Business news News : कंपनी ऑडिट रिपोर्ट प्रकाश आदेश 2020 के अनुपालन की तिथि टली - compliance of company audit report lighting order 2020 postponed

Business news News : कंपनी ऑडिट रिपोर्ट प्रकाश आदेश 2020 के अनुपालन की तिथि टली - compliance of company audit report lighting order 2020 postponed
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