Major Changes around CARO 2020

The MCA has notified Companies (Auditor’s Report) Order, 2020 on 25 February 2020 (CARO 2020) which replaces the earlier order under Companies (Auditor’s Report) Order, 2016. CARO 2020 has been brought in to enhance the overall quality of reporting by the Statutory Auditors. Corresponding amendments have also been brought out in Schedule III (Division I, Division II and Division III) to the Companies Act, 2013 vide its notification dated 24th March 2021 for preparation of the financial statements and various other disclosure requirements.

We have drafted a comparative view of the key changes in CARO 2020 with CARO 2016. Click the link below to download and read in details.

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