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CARO 2003, 2015, 2016 and 2020 comparison table

Clause by Clause Comparison of the Reporting Companies (Auditor’s Report) Order 2020 vis a vis Previous CAROs

CARO 2003  2015 2016  2020
ISSUE DATE June 2003 10 April 2015 29 March 2016 25th February 2020
EFFECTIVE DATE July 2003 Audits of FY 2014-15 and onwards Audits of FY 2015-16 and onwards Audits of FY 2019-20 and onwards
Para 3 – (clause by clause) (i) (a) whether the company is maintaining proper records showing full particulars, including quantitative details and situation of fixed assets; (i) (a) whether the company is maintaining proper records showing full particulars, including quantitative details and situation of fixed assets; (i)(a) whether the company is maintaining proper records showing full particulars, including quantitative details and situation of fixed assets;

(i)(a) (A) whether the company is maintaining proper records showing full particulars, including quantitative details and situation of Property, Plant and Equipment;

(B) whether the company is maintaining proper records showing full particulars of intangible assets;

  (b) whether these fixed assets have been physically verified by the management at reasonable intervals; whether any material discrepancies were noticed on such verification and if so, whether the same have been properly dealt with in the books of account; (b) whether these fixed assets have been physically verified by the management at reasonable intervals; whether any material discrepancies were noticed on such verification and if so, whether the same have been properly dealt with in the books of account; (b) whether these fixed assets have been physically verified by the management at reasonable intervals; whether any material discrepancies were noticed on such verification and if so, whether the same have been properly dealt with in the books of account; (b) whether these properties, Plant, and Equipment have been physically verified by the management at reasonable intervals; whether any material discrepancies were noticed on such verification and if so, whether the same have been properly dealt with in the books of account;
  (c) if a substantial part of fixed assets have been disposed of during the year, whether it has affected the going concern;   (c) whether the title deeds of immovable properties are held in the name of the company. If not, provide the details thereof; 

(c) whether the title deeds of all the immovable properties. (other than properties where the Company is the lessee and the lease agreements are duly executed in favor of the lessee) disclosed in the financial statements are held in the name of the company. 


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CARO 2003, 2015, 2016 and 2020 comparison table

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