12 March 2015
No. CARO is not applicable for May 2015 CA Final Exam. Check out the amendments issued by ICAI from link given below:
http://220.227.161.86/36415listprobos-final.pdf
If you remember in amendment issued by ICAI for Nov 2014 it was clearly mentioned that CARO will be applicable, which is not mentioned in the amendments for May 2015.
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