Hi, ICAI has not yet notified the applicability of CARO, 2015 for CA final November,2015 examination. If it is to be made applicable, ICAI will either issue a notification or it will be specified in the RTP for November, 2015.
Hello, To know the applicability of the CARO for November 2015 exam you need to see the notification of the ICAI for it. Moreover as per ICAI any amendment made before 6 months then such amendment is applicable but if it is not applicable ICAI host it on its website & even in the RTP & Journal issued by the institute. To know more you need to visit the ICAI website ferquently & you will be updated accoringly
Hello, Yes CARO is applicable for chartered accountancy final exams which will be held in November 2015.The institute of chartered accountants of india clearly stated the fact that they have been receiving queries by their members about the applicability of CARO in November 2015 CA Final exams.CARO 2015 is applicable from the financial year commencing on or after 1st april,2014.CARO shall apply to every company which also includes foreign companies under the provisions of the companies act,2013.The companies to which CARO is not applicable are banking companies,insurance companies,any company licensed u/s 8 of the companies act 2013. CARO is also not applicable to an one person company,private limited company whose paid up capital including reserves is not more than 50 lakhs.One of the changes in CARO 2015 is that now the auditor has to state reason for qualification of each and every point which he gives in his audit report.Thus,it would make the audit report of the respective auditor more reliable.Where the auditor is not capable of justifying his qualification given in his audit report with suitable reasons,such facts should also be stated in his audit report. THANK YOU, REGARDS, RISHABH SITANI.
you can check out this link anushree http://www.icai.org/new_post.html?post_id=11490&c_id=219