Vikas Sharma

CARO 2020 Guidance Note: the form of the CARO report, reasons for unfavourable or qualified answers, the board's reply under section 134(3)(f), changes from CARO 2016 and how the illustrative audit checklist is organised3 Oct 2026 CARO 2020 clauses 3(xvii) to 3(xxi) in practice: cash losses, resignation of the statutory auditor, material uncertainty about meeting liabilities within a year, unspent CSR amounts, and qualifications in the CARO reports of group companies3 Oct 2026 CARO 2020 clauses 3(xii) to 3(xvi) in practice: Nidhi ratios, related party transactions, internal audit, non-cash transactions with directors and RBI registration3 Oct 2026 CARO 2020 clauses 3(x) and 3(xi) in practice: use of money raised by public offers, preferential allotment or private placement of shares and convertible debentures, fraud by or on the company, ADT-4 reports, and whistle-blower complaints3 Oct 2026 CARO 2020 clause 3(ix) in practice: loan defaults, wilful defaulter declarations, term loan use, short-term funds for long-term purposes and group funding and pledges3 Oct 2026 CARO 2020 clauses 3(vii) and 3(viii) in practice: regularity of statutory dues, arrears over six months, disputed dues by forum and income surrendered in tax assessments3 Oct 2026 CARO 2020 clauses 3(v) and 3(vi) in practice: deposits and amounts deemed to be deposits, directives of the RBI and orders of the CLB, NCLT or RBI, and whether cost records specified under section 148(1) are maintained3 Oct 2026 CARO 2020 clauses 3(iii) and 3(iv) in practice: loans, guarantees, security and investments, prejudicial terms, overdue amounts, evergreening, demand loans and sections 185 and 1863 Oct 2026 CARO 2020 clause 3(ii) in practice: physical verification of inventory, discrepancies of 10 per cent or more, and quarterly returns or statements filed with banks for working capital limits above Rs 5 crore3 Oct 2026 CARO 2020 clause 3(i) in practice: fixed asset registers, physical verification programmes, title deeds of immovable property, revaluation of property, plant and equipment and intangibles, and benami proceedings3 Oct 2026 CARO 2020 Guidance Note: the general approach to CARO reporting, materiality, management representations, working papers and the clause-by-clause link with the 2021 Schedule III disclosures3 Oct 2026 CARO 2020 Guidance Note: which companies the Order covers in practice, the five exemptions, the private company tests and their timing, the holding and subsidiary check, consolidated statements and the period of compliance3 Oct 2026