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CARO 2016 Applicability As per Draft Companies

CARO 2016 Applicability As per Draft Companies

CARO 2016 Applicability As per Draft Companies(Auditor’s Report) order 2016. Applicability of CARO 2016 by ICAI MCA Draft Revised CARO, CA Final IPCC Nov 2016 Exams. Ministry of Corporate Affairs has issued a notification on February 9, 2016. The draft Companies (Auditor’s Report) Order, 2016 has been placed on the Ministry’s website at www.mca.gov.in.

caro 2016

caro 2016

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Applicability of revised CARO 2016 as per draft: 

(1) This Order may be called the Companies (Auditor’s Report) Order, 2016.

(2) It shall apply to every company including a foreign company as defined in clause (42) of section 2 of the Companies Act, 2013 (18 of 2013) [hereinafter referred to as the Companies Act], except:–

(i) A banking company as defined in clause (c) of section 5 of the Banking Regulation  Act, 1949 (10 of 1949);

(ii) an insurance company as defined under the Insurance Act,1938 (4 of 1938);

(iii) a company licensed to operate under section 8 of the Companies Act;

(iv) a One Person Company as defined under clause (62) of section 2 of the Companies Act and a Small Company as defined under clause (85) of section 2 of the Companies Act; and

(v) a private limited company, not being a subsidiary or holding of a public company, having a paid up capital and reserves and surplus not more than rupees one crore as at the balance sheet date and which does not have total borrowings exceeding rupees one crore from any bank or financial institution at any point of time during the financial year and which does not have a total revenue as defined in Scheduled III to the Companies Act, 2013 (including revenue from discontinuing operations) exceeding rupees ten crore during the financial year as per the financial statements.

Download CARO 2016 Applicability As per Draft Companies

Caro 2016

CARO 2016 Applicability As per Draft Companies

CARO 2016 Applicability As per Draft Companies

Caro 2016

Caro 2016

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