Statutory audit report/ caro

Dattaprasad (Audit Officer) (184 Points)

28 November 2011  

Dear All,

 

while preparing the audit Report of a private company, for which CARO is applicable, i have a doubt regarding charge of asset made on loan for vehicles.

our client has brought a vehicle  through loan from bank. this transaction  crated charge on loan amount outstanding but the company has not maintained register Under Section 125 of the companies act.

 

is there any requirement to qualify the report?, if yes, pls provide.