24 October 2016
Generally it is the responsibility of the statutory auditor as per S.143 of Companies Act, 2013 to report on the IFC of the company. Thus the auditor has to give the main audit report, CARO and report on IFC. You can appoint a IFC auditor separately on whose report the statutory auditor can rely.
26 October 2016
It is a part of the audit report similar to CARO report. It forms annexure to the main report. This report if applicable has to be done every year.
CAclubindia
