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Format of CARO 2015 Annexure
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https://www.scribd.com/doc/261604999/Caro-2015-Annexure-Format-LearnedCA
ABC Limited
Annexure
to the Auditors’ Report
The
Annexure referred to in our report to the members of ______________the
Company’) for the year Ended on _________. We report that:
(i)
(a) whether the company is maintaining
proper records showing full particulars, including quantitative details and
situation of fixed assets;
(b)
whether these fixed assets have been physically verified by the management at
reasonable intervals; whether any material discrepancies were noticed on such
verification and if so, whether the same have been properly dealt with in the
books of account;
(ii)
(a) whether physical verification of
inventory has been conducted at reasonable intervals by the management;
(b)
are the procedures of physical verification of inventory followed by the
management reasonable and adequate in relation to the size of the company and
the nature of its business. If not, the inadequacies in such procedures should
be reported;
(c)
whether the company is maintaining proper records of inventory and whether any
material discrepancies were noticed on physical verification and if so, whether
the same have been properly dealt with in the books of account;
(iii)
whether the company has granted any
loans, secured or unsecured to companies, firms or other parties covered in the
register maintained under section 189 of the Companies Act. If so,
(a) whether
receipt of the principal amount and interest arc also regular; and
(b) if overdue amount is
more than rupees one lakh, whether reasonable steps have been taken by the
company for recovery of the principal and interest;
(iv)
is there an adequate internal
control system commensurate with the size of the company and the nature of its
business, for the purchase of inventory and fixed assets and for the sale of
goods and services. Whether there is a continuing failure to correct major
weaknesses in internal control system.
(v)
in case the company has accepted deposits, whether the directives
issued by the Reserve Bank of India and the provisions of sections 73 to 76 or
any other relevant provisions of the Companies Act and the rules framed there
under, where applicable, have been complied with? I I not, the nature of
contraventions should be stated; If an order has been passed by Company Law
Board or National Company Law Tribunal or Reserve Bank of India or any court or
any other tribunal, whether the same has been complied with or not?
(vi)
where maintenance of cost records
has been specified by the Central Government under sub-section (1) of section
148 of the Companies Act, whether such accounts and records have been made and
maintained;
(vii)
(a) is the company regular in depositing
undisputed statutory dues including provident fund, employees’ state insurance,
income-tax, sales-tax, wealth tax, service tax, duty of customs, duty of
excise, value added tax, cess and any other statutory dues with the appropriate
authorities and if not, the extent of the arrears of outstanding statutory dues
as at the last day of the financial year concerned for a period of more than
six months from the date they became payable, shall be indicated by the
auditor.
(b)
in case dues of income tax or sales tax or wealth tax or service tax or duty of
customs or duty of excise or value added tax or cess have not been deposited on
account of any dispute, then the amounts involved and the forum where dispute
is pending shall be mentioned. (A mere representation to the concerned
Department shall not constitute a dispute).
(c) whether
the amount required to be transferred to investor education and protection fund
in accordance with the relevant provisions of the Companies Act, 1956 (1 of
1956) and rules made thereunder has been transferred to such fund within time.
(viii)
whether
in case of a company which has been registered for a period not less than five
years, its accumulated losses at the end of the financial year are not less
than fifty per cent of its net worth and whether it has incurred cash losses in
such financial year and in the immediately preceding financial year;
(ix)
whether
the company has defaulted in repayment of dues to a financial institution or
bank or debenture holders? If yes, the period and amount of default to be reported;
(x)
whether
the company has given any guarantee for loans taken by others from bank or
financial institutions, the terms and conditions whereof are prejudicial to the
interest of the company;
(xi)
whether
term loans were applied for the purpose for which the loans were obtained;
(xii)
whether
any fraud on or by the company has been noticed or reported during the year; If
yes, the nature and the amount involved is to be indicated.
For _______________
Chartered
Accountants
Firm’s
registration number: ___________
Partner
Membership
number: _________
Place
Date
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