CARO 2020: MCA has further deferred the immediate applicability; now applicable from F.Y. 2021-22

The Ministry of Corporate Affairs (MCA) had notified a new reporting regime of Companies (Auditor’s Report) Order, 2020 (CARO) to make the books of accounts of companies more transparent by including some additional and specific disclosure norms. In wake of pandemic, MCA had deferred the immediate applicability of CARO 2020 by one year in March, 2020. Now, with the latest move, the ministry has further deferred the applicability of CARO, 2020 by one more year.The Ministry of Corporate Affairs (MCA) had notified a new reporting regime of Companies (Auditor’s Report) Order, 2020 (CARO) to make the books of accounts of companies more transparent by including some additional and specific disclosure norms. In wake of pandemic, MCA had deferred the immediate applicability of CARO 2020 by one year in March, 2020. Now, with the latest move, the ministry has further deferred the applicability of CARO, 2020 by one more year.taxmann.com Latest Statutory HappeningsRead More

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