CARO 2020 – Clause by clause analysis
Learn about the key amendments in the revised/new CARO 2020 compared to CARO 2016. Understand the auditor’s responsibilities for each clause and gain practical insights. This course provides a quick and easy recap of CARO 2020, with anytime, anywhere access and a certificate upon completion. Perfect for those looking to understand and comply with CARO 2020.
What you’ll learn
- Understand key amendments in revised/new CARO 2020 compared with earlier
- Auditor’ responsibility with regard to each clause
- Clause wise analysis with practical insights
- Recap of CARO 2020 in quick and easy manner
The Ministry of Corporate Affairs (MCA) has announced a new format of statutory audits of companies. The MCA has notified Companies (Auditor’s Report) Order, 2020 on 25 February 2020 (CARO 2020). The order (CARO 2020) replaces the earlier order under Companies (Auditor’s Report) Order, 2016.
CARO 2020 is applicable for all statutory audits commencing on or after 1 April 2021 corresponding to the financial year 2020-21.
A course on Clause by Clause Analysis of CARO 2020 (applicable from F.Y. 2021-22) covers:
– Applicability and Exemption from CARO
– Major changes in CARO 2020 compared to CARO 2016
– Clause wise Analysis
– Each lecture includes understanding of clause, audit process and reporting
– Word template of CARO and Main Auditor Report format
– Self Assessment Test in the form of Multiple Choice Questions (MCQs) to test as you learn
– Solutions to your practical Questions by way of Q&A
– Anytime Anywhere Lifetime Access
– Certificate on Course Completion
– Understanding, implications and auditor responsibility for New Clauses like
evergreening of loans,
capacity of company to pay financial liablities,
verification of submissions in case of working capital loan
Corporate social responsibility – transfer of unspent amount
Internal audit system and Internal Audit Report
Wilful defaulter
Benami properties
Use of short term loan for long term purpose
Revaluation of Property, plant & equipments and Intangible assets
Deemed Deposit
Resignation of Statutory auditor
Whistle blower complaint considered by auditor
Auditor of Consolidated Financial Statements – Details of qualification or adverse remarks by component auditors
Accounting of surrender of Undisclosed Income
Fraud reporting by auditor: ADT-4
Related party transactions in compliance with Laws
fund taken for meeting obligation of or on pledge of securities held in, Subsidiaries, Associates or Joint ventures
Who this course is for:
- Learning CARO 2020
- Understanding changes compared to CARO 2016
- Identify Audit process required for reporting
- Ready made Word template for CARO 2020 and Auditor Report
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