2. • Many of the CARO reporting
framework were included in the
new act with the enactment of
companies act 2013
• Enhancing reporting framework
3. Deletion
• Reporting on disposal of substantial part
of fixed assets.
• Loan taken by the company
• Transaction with directors (Mandatory to
review by Audit committee now)
• Internal Audit provision (included in DRS
section 134)
• compliance of special statute provision
(Chit Fund etc.)
• Details of fund raised
• Creation of security
• End use of money
• Preferential allotment (included in act)
Addition
• Whether amount
required to
transfer in
Investor
education and
protection fund
is transferred
within time.
• Adequate
internal control
for sale of
SERVICE.
4. 1. Fixed Assets - Proper records are maintained
2. Physical verification – Intervals, Material discrepancy
properly dealt
3. Loans & Advances to parties covered under section 189
Principal and interest amount is regular
Overdue is more than 1,00,000 reasonable steps have been taken
to recover
4. Internal control
purchase of inventory and fixed assets
sale of goods and service
5. Deposits - section 73 to 76 compliance
6. Cost Record as per section 148
5. 7. Statutory dues
Outstanding statutory dues of more than 6 months
Disputed – Amount involved and Forum
IEPF – amount transferred within time
8. More than 5 Years old company
Cash Loss
Accumulated loss not less than 50% of net worth
9. Default in repayment to bank
10. Guarantee for Loan taken by others
11. Term Loan applied for the purpose obtained
12. Fraud (Nature & amount)
