Taxmann Comprehensive Guide on CARO 2020 By The Chamber of Tax Consultants Edition August 2021

Taxmann Comprehensive Guide on CARO 2020 Edition August 2021

Taxmann Comprehensive Guide on CARO 2020 Edition August 2021

Comprehensive Guide to CARO 2020 provides specific guidance & practical tips to help the auditors navigate through the complex areas of reporting. It also provides clause-by-clause analysis of CARO 2020 requirements in an easy-to-understand language.

This book will be helpful for auditors & preparers of financial statements.

The Present Publication is the Latest Edition, authored by Gautam V. Shah, Hemal D. Shah, Milan Mody, Yogesh Amal, Santosh Maller, guided by Zubin Billimoria. The highlights of this book are as follows:

• [Analyse & Improve the Understanding of New Reporting Guidelines] under CARO
• [Practical Challenges in Compliance] To highlight the challenges which are anticipated while complying with the new norms
• [Commentary on Reporting Issues & Practices | Guidance Note by ICAI] along with views and perspectives to supplement broad guidance covered by the Guidance Note issued by the ICAI in June 2020
• [Illustrative & Indicative Draft of the Clauses] to be reported
• To assist the management and preparers of financial statements in providing and compiling data on a timely basis
• [Specific Guidance] for practitioners:
• [Audit Procedures] to be followed
• [Key Risks] which need to be addressed and vigilance that needs to be adopted
• [Key Checkpoints] for the auditors
• [Documentation] including management representation letter

The detailed contents of this book are as follows:

• Introduction & General Audit Approach
• Property Plant Equipment & Intangible Assets
• Inventories and other Current Assets
• Investments, Loans, Advances & Guarantees
• Deposits, Loans and Borrowings
• Capital Raising
• Statutory Dues
• Fraud Reporting
• Cost Audit & Internal Audit
• Nidhi Companies and NBFCs (including CICs)
• Related Party Transactions and Non-Cash Transactions with Directors
• Reporting on Financial Position
• Resignation of Statutory Auditors
• Corporate Social Responsibility (CSR)
• Consolidated Financial Statements (CFS)

About the author

The Chamber of Tax Consultants

The Chamber of Tax Consultants (The Chamber) was established in the year 1926 and is one of the oldest voluntary non-profit making organizations of Professionals. It is a young, dynamic organization with a glorious past and an undisputedly ambitious future in disseminating knowledge in the fields of fiscal law. The Chamber contributes to the development of law and profession through research, analysis, representations, study discussions, etc. The Chamber is pre-eminent in upholding the professionals, tradition of excellence in service, principle conduct and social.

The Chamber disseminates knowledge by upholding unique Workshops, Seminars, Lecture Meetings, Study Circles and Study Group Meetings, Outstation Conferences, etc., for the benefit of members and students to keep them up to date with the latest developments in the field of Law. The Chamber’s Journals is its mouthpiece. It is prevalent among professionals and Corporates, mainly because of in-depth analysis on topical issues (theme-based). These special issues have found a permanent place in libraries of leading tax professionals. The Chamber also publishes a separate journal on International Tax

The Chamber has always stood up for professionals, taxpayers by making effective representations before Government and regulatory authorities. It has its echoes in Government and ministries as well. Today Professionals look upon the Chamber as an institution that can take their voice to the Court of Law whenever required. The Chamber manages libraries at prominent places which professionals and students widely use.