CARO 2020 - Change in Reporting with Change in Vision

Assets and losses related disclosure changes

Loans and Advances related disclosure changes

Companies Act and other regulatory changes

Others

1. Proper records of intangible assets

2. Re-valuation of PPE and intangible assets and whether the change is more than 10%

3. Format with respect to the immovable properties whose title deeds has not been executed

4. Discrepancies of 10% or more noticed during the physical verification of inventory

5. Disclosure of cash losses in the financial year and immediately preceding financial year.

1. Sanction of working capital limited more than 5 crores at any point of the year from banks and FIs and whether the quarterly returns filed by the Company with such banks or FIs are in agreement.

2. If the Company has made investment, provided guarantee/security/loans/advances to LLP or any other party then:

· Disclose the loans/advances/security/guarantees provided to subsi/JVs/associates or any other party during the year.

· Disclose if the amount is overdue more than 90 days and reasonable steps taken by the Company

· Specify the dues renewed/extended/fresh loan obtained to settle the existing loans.

· Disclose the loan/advances amount where no terms or period of repayment has been specified.

3. Disclosure of the default in repayment of loans and other borrowings done by the Company to any lender (format prescribed).

4. Disclosure in case the Company is a declared wilful defaulter by bank/FIs/other lenders.

5. Utilisation of the term loan for which it is obtained and disclose the amount if so diverted.

6. Disclosure of the funds raised for short term purposes but used for long term purposes

7. Disclosure of the funds raised by the Company to pay the obligations of JVs/subsi/associates.

8. Details of loans raised and default thereby during the year on the pledge of securities held in JVs/subsi/associates.

1. Proceedings against the Company under Benami Transaction (prohibition) Act, 1988 and rules thereunder

2. Details of report filed under section 143(12) of Companies Act, 2013

3. Incase a Company is CIC then the fulfilment of criteria of a CIC (exempted/unregistered).

4. Indicate the number of CIC, if the group has more than one CIC.

5. Existence of material uncertainty relating to going concern.

6. Transfer of unspent amount in compliance with section 135 of Companies Act, 2013 to:

· Fund within 6 months pursuant to other than ongoing project

· Special Accountpursuant to any ongoing project

7. Reporting in consolidated audit report for the qualification or adverse remarks made by the respective auditors in the standalone audit report.

1. Disclosure of surrendered income during the year under IT Act, 1961.

2. Consideration of any whistle blower complaint during the year and details thereon.

3. Appropriate internal audit system and consideration of internal auditor's report.

4. Consideration of issues raised by the outgoing auditor.

5. Defaults made by Nidhi Companies on payment of interest on deposits or repayment for any period.