CARO 2020: Overview of Modifications & Novel Reporting Requirements
- Year of Publication: 2021
- ISBN: 0
Episode Duration:
60 minutes
Episode background:
CARO is supplemental to the audit of financial statements of certain classes of companies. It acts as an additional layer of comprehensive disclosures and transparent financial reporting for these companies. CARO places an onus of reporting onto the auditee company and incremental audit procedures upon the auditor.
The existing CARO 2016 has been amended to bring it in line with changes in financial reporting and regulatory compliances. With modifications to its existing clauses and insertion of new requirements, the new improved CARO 2020 is a comprehensive mechanism to ensure transparent and fair financial reporting.
What shall the episode cover?
Against this backdrop, Taxsutra’s Audit & Accounting Platform “Greentick” (https://greentick.taxsutra.
Key Highlights
- Understanding the need for change and introduction of a new reporting order
- Understanding what is carried forward and what is deleted from 2016
- Modifications introduced by CARO 2020
- New reporting requirements introduced under CARO 2020
- Executive Summary
Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.
Taxsutra suite of portals :
1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt)
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law
6. Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)
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- Year of Publication: 2021
- ISBN: 0
Episode Duration:
60 minutes
Episode background:
CARO is supplemental to the audit of financial statements of certain classes of companies. It acts as an additional layer of comprehensive disclosures and transparent financial reporting for these companies. CARO places an onus of reporting onto the auditee company and incremental audit procedures upon the auditor.
The existing CARO 2016 has been amended to bring it in line with changes in financial reporting and regulatory compliances. With modifications to its existing clauses and insertion of new requirements, the new improved CARO 2020 is a comprehensive mechanism to ensure transparent and fair financial reporting.
What shall the episode cover?
Against this backdrop, Taxsutra’s Audit & Accounting Platform “Greentick” (https://greentick.taxsutra.
Key Highlights
- Understanding the need for change and introduction of a new reporting order
- Understanding what is carried forward and what is deleted from 2016
- Modifications introduced by CARO 2020
- New reporting requirements introduced under CARO 2020
- Executive Summary
Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.
Taxsutra suite of portals :
1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt)
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law
6. Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)
