FROM THE DESK OF CS S. DHANAPAL, F.C.S., B.Com, B.A.B.L.
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DEAR CLIENTS /WELL-WISHERS,
"Don't wait for the perfect Moment,
Tack the moment and make it perfect "
In exercise of the powers conferred by sub-section (11) of section 143 of the Companies Act, 2013 (18 of 2013) and in supersession of the Companies (Auditor’s Report) Order, 2015 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), vide number S.O. 990 (E), dated the 10th April, 2015, except as respects things done or omitted to be done before such supersession, the Central Government, after consultation with the committee constituted under proviso to sub-section (11) of section 143 of the Companies Act, 2013 has introduced Companies (Auditor's Report) Order, 2016
Subsequently, the Ministry of Corporate Affairs has notified the Companies (Auditor's Report) Order, 2016 (CARO 2016) vide its Notification no. S.O. 1228(E) dated 29th March, 2016. This Order supersedes the Companies (Auditor's Report) Order, 2015 dated 10th April, 2015 and shall be applicable for the financial year commencing on or after 1st April, 2015.
It is a hot topic in all professional forums and circles for discussions and deliberations with lot of concerns and apprehensions as to how to deal with this new CARO requirements and implications that will be faced by professionals and corporate.
In this Article, an attempt has been made to compare the provisions of CARO 2015 and CARO 2016 with the aim of highlighting the changes put forth by CARO, 2016 and the revised requirements to be followed going forward in the form of write up to enable the readers to acquaint themselves with the changes and challenges ahead. I hope you will find this article useful for your reference.
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Thanks and Regards
S.Dhanapal
Sr. Partner
M/s. S D h a n a p a l & A s s o c i a t e s
(a Firm of Practising Company Secretaries)
Suite No.103, First Floor, Kaveri Complex,
96/104, Nungambakkam High Road,
(Next to NABARD and ICICI Bank),
Nungambakkam, Chennai - 600 034.
Land-line 044 - 4553 0256 / 0257
Dir-044-42652127 Cell-9677022712
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