This slideshare contains all the provision of CARO 2015 which is applicable from 10th of April 2015.
Further relevant extract from Companies Act 2013 has been made.
How to Begin Secretarial Audit (Compliance of All Applicable Law )Pavan Kumar Vijay
My Presentation at ICSI on 13/03/2015- "How to Begin- Secretarial Audit".
Secretarial Audit is a process to check compliance with –
• the provisions of various laws and Rules/Regulations/Procedures,
• maintenance of books, records etc,
• by an independent professional to ensure that the company has complied with the legal and procedural requirements and also followed due processes.
• the Board of Directors has to give explanation in the Board’s Report to every qualification and observation or other adverse remark made by the Secretarial Auditor.
•So we can say that the Board of Directors has to ensure that there should be a system in the company through which Compliance Officer can Control on all compliances under all applicable Laws.
Read more...
Companies Act, 2013-Presentation on Accounts & AuditSASPARTNERS
A detailed presentation prepared by SAS Partners Team, Chennai which gives an insight to the important provisions on Chapter IX - Accounts & Audit under Companies Act, 2013. This can be used by the Corporates, Professionals and Students as a ready reckoner for better understanding of the provisions and easy reference.
Form MGT-8 is a certification given on a company’s annual return by a practising company
secretary, as per the Companies Act 2013, under Section 92(2).
Various provisions regarding independent director, appointment, qualification, remuneration, duties and roles of Independent director as mentioned in Schedule IV. In case you need this power point presentation, you can comment your email id.
How to Begin Secretarial Audit (Compliance of All Applicable Law )Pavan Kumar Vijay
My Presentation at ICSI on 13/03/2015- "How to Begin- Secretarial Audit".
Secretarial Audit is a process to check compliance with –
• the provisions of various laws and Rules/Regulations/Procedures,
• maintenance of books, records etc,
• by an independent professional to ensure that the company has complied with the legal and procedural requirements and also followed due processes.
• the Board of Directors has to give explanation in the Board’s Report to every qualification and observation or other adverse remark made by the Secretarial Auditor.
•So we can say that the Board of Directors has to ensure that there should be a system in the company through which Compliance Officer can Control on all compliances under all applicable Laws.
Read more...
Companies Act, 2013-Presentation on Accounts & AuditSASPARTNERS
A detailed presentation prepared by SAS Partners Team, Chennai which gives an insight to the important provisions on Chapter IX - Accounts & Audit under Companies Act, 2013. This can be used by the Corporates, Professionals and Students as a ready reckoner for better understanding of the provisions and easy reference.
Form MGT-8 is a certification given on a company’s annual return by a practising company
secretary, as per the Companies Act 2013, under Section 92(2).
Various provisions regarding independent director, appointment, qualification, remuneration, duties and roles of Independent director as mentioned in Schedule IV. In case you need this power point presentation, you can comment your email id.
Statutory audit is a very crucial topic which is a must for any student appearing for CA examination. We have tried to cover as much as possible in these notes.
QLI is one of the best CA, CS and CFA Classes. We have excellent faculty for CPT, IPCC and CA Final.
Appointment and Qualification of directors along with relevant rules.Dipendra Prasad Poudel
In this presentation you can find the provisions regarding appointment of directors and their qualifications as per companies act 2013 and relevant rules of Appointment and qualification of directors rules. Due care has been taken to make presentation simple and attractive. Any suggestions, feedback and queries are openly accepted.
Key Takeaways:
Enhanced reporting requirements in CARO, 2020
Significant changes in CARO, 2020
Matters specified in Auditor's report
Comparison between CARO, 2020 and CARO, 2016
Presentation on Covid impact on financial reporting Taxmann
Coverage of the Webinar
1. COVID-19: PANDEMIC AND THE RIPPLE EFFECT
A. Unprecedented Human, Economic and Financial Crisis facing the world with widespread disruption
B. Due to the significant downturn in the economic activities and the long term impact of the same, the RBI, as well as leading credit rating agencies (Moody, S&P, Fitch, and CRISIL), have predicted a shrinkage of the GDP during FY 2020-21 of 2%-5% and all-time high unemployment.
2. FINANCIAL CHALLENGES & MITIGATING PLANS
A. An entity engaged in tourism and hospitality is heavily dependent upon the tourists from India traveling overseas and foreign nationals visiting India. In the light of COVID-19 outbreak across the globe, the entity has analyzed the likely impact of customers' behavior coupled with bleak employment scenario on its revenue over the next year.
B. This review has indicated possible substantial operating losses during the next financial year i.e. 2020-21.
C. The entity is exploring the possibility of recognizing a certain amount of operating losses as the provision in the financial
statements of the current year itself i.e. 2019-20.
3.AUDITING CHALLENGES
A. COVID -19 caused unprecedented situations
in the businesses and the environment. Changes at such a large scale impacted each industry.
B. Albeit auditors faced many difficulties in auditing areas of financial statements, challenges faced while auditing inventory
has been taken as an example and discussed in the following slides.
4. IMPACT ON FINANCIAL REPORTING
A. Updated financial forecasts for the foreseeable future, but not less than a 12-month period;
B. Updated sensitivity analysis;
C. Forecasted compliance, or lack thereof, with banking and other covenants for the foreseeable future; and
D. Any other information available up to the date the financial statements are authorized for issuance.
5. OTHER KEY CONSIDERATIONS
A. Employee Benefits
B. Internal Financial Control over Financial Reporting
C. Data Confidentiality and Cyber Security
It is all about CARO 2016 in detailed observations and it is compared with CARO 2015 and this contains how to report for each clause in caro, thank u in advance for seeing this.
Overview of Companies (Auditor’s Report) Order 2020
TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY,PART II, SECTION 3, SUB-SECTION (ii)]MINISTRY OF CORPORATE AFFAIRS
CONTENTS
1) BACKGROUND OF SECTION 143 OF COMPANIES ACT 2013
2) REQUIREMENT OF CARO
3) NON APPLICABILITY OF CARO 2020 TO CERTAIN COMPANIES
3) MATTERS TO BE INCLUDED IN THE AUDITORS REPORT
4) DESCRIPTION OF EACH PARAGRAPH TO BE INCLUDED IN CARO 2020
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
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Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
Personal development courses are widely available today, with each one promising life-changing outcomes. Tim Han’s Life Mastery Achievers (LMA) Course has drawn a lot of interest. In addition to offering my frank assessment of Success Insider’s LMA Course, this piece examines the course’s effects via a variety of Tim Han LMA course reviews and Success Insider comments.
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
2. Presented By: Dipendra Prasad
Poudel
Direction to Readers
Dear Reader,
Thank you for choosing this SlideShare.
For better experience as well to save your time, I suggest you to download this PowerPoint and view this in full screen mode in
your computer by pressing F5 because all the tab like fixed assets, inventory, deposits etc. are hyperlinked and you can move up
and down instantly simply by pressing the buttons rather than moving up and down.
In this presentation, you can find relevant extract from companies act 2013 as well which makes this as a full fledged single
source of reading CARO 2015.
Please pass your valuable suggestions and feedback so that I can give you better content material.
Thanks and Regards
Dipendra Prasad Poudel
Click Here- Lets get
connected in Social
Medias
3. Presented By: Dipendra Prasad
Poudel
Applicability of CARO
Applicable to every company
including foreign company
Exceptions from Applicability of CARO 2015
1) Banking Companies
2) Insurance Companies
3) Not for Profit Companies ( Section 8 Companies)
4) One Person Companies
5) A private limited companies with
a) paid up capital and reserves not more than INR fity Lakhs and;
b) doesn’t have outstanding loan INR 25 Lakhs from any bank or financial
institution and;
c) Doesn’t have turnover exceeding INR five crore during at any point
during FY
Applicable From
10th April 2015
4. Presented By: Dipendra Prasad
Poudel
Matters to be Included in Audit ReportFixed Assets
Inventory
Loans to
covered U/S 189
Deposits
Internal
Control
System
Cost Records
Statutory Dues
Accumulated
losses
Usage of loan
Fraud
Reporting
Weather a company is maintaining proper records showing full particulars, including quantitative details
and situation of fixed assets.
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.
Default and
Guarantee of loan
5. Presented By: Dipendra Prasad
Poudel
Matters to be Included in Audit ReportFixed Assets
Inventory
Loans to
covered U/S 189
Deposits
Internal
Control
System
Cost Records
Statutory Dues
Accumulated
losses
Usage of loan
Fraud
Reporting
Whether physical verification of inventory has been conducted at reasonable intervals by management.
Are the procedures of physical verification of inventory followed by management reasonable and adequate
in relation to the size of company and nature of its business. If not adequacies of such procedure shall be
reported.
Whether the company is maintaining proper records of inventory and whether any material discrepancies
were noticed on physical verification and if so, weather the same has been properly dealt in the books of
accounts.
Default and
Guarantee of loan
6. Presented By: Dipendra Prasad
Poudel
Matters to be Included in Audit ReportFixed Assets
Inventory
Loans to
covered U/S 189
Deposits
Internal
Control
System
Cost Records
Statutory Dues
Accumulated
losses
Usage of loan
Fraud
Reporting
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,
whether receipt of the principal amount and interest are also regular; and
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;
Section 189 of Companies Act 2013: Section 189 mandates companies to maintain
registers giving separately the particulars of all the contracts or arrangement to
which subsection 2 of section 184 (directly or indirectly concerned in a contract or
arrangement or proposed contract) or section 188 applies ( Related Party
Transaction)
Default and
Guarantee of loan
7. Presented By: Dipendra Prasad
Poudel
Matters to be Included in Audit ReportFixed Assets
Inventory
Loans to
covered U/S 189
Deposits
Internal
Control
System
Cost Records
Statutory Dues
Accumulated
losses
Usage of loan
Fraud
Reporting
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.
Default and
Guarantee of loan
8. Presented By: Dipendra Prasad
Poudel
Matters to be Included in Audit ReportFixed Assets
Inventory
Loans to
covered U/S 189
Deposits
Internal
Control
System
Cost Records
Statutory Dues
Accumulated
losses
Usage of loan
Fraud
Reporting
In case company has accepted deposits, ensure that it has complied with directives issued by Reserve Bank
of India and the provision of sections 73 to 76 or any other relevant provision of companies act and the
rules framed under there, where applicable, complied with? If Not, nature of contraventions should be
stated; If an order has been passed by company law board or RBI or any court or any other tribunal,
whether the same has been complied or not.
General Circular 5/2015 Dated 30/03/2015 : Deposits received by private companies prior to 1st April,
2Ol4 shall not be treated as 'deposits‘ subject to the condition that relevant private company shall
disclose, in the notes to its financial statement for the financial year commencing on or after 1st April, 2014
the figure of such amounts and the accounting head in which such amounts have been shown in
the financial statement.
Any renewal or acceptance of fresh deposits on or after 1st April, 2014 shall, however, be in accordance
with the provisions of Companies Act, 20 13 and rules made thereunder
In next slide there is brief introduction to section 73 and 76.
Default and
Guarantee of loan
9. Presented By: Dipendra Prasad
Poudel
Matters to be Included in Audit ReportFixed Assets
Inventory
Loans to
covered U/S 189
Deposits
Internal
Control
System
Cost Records
Statutory Dues
Accumulated
losses
Default and
Guarantee of loan
Usage of loan
Fraud
Reporting
Where maintenance of cost records has been specified by Central Government under Sub-section 1 of
section 148 of the companies act, whether such accounts have been made and maintained.
Section 148 of companies act 2013: Central Government to specify audit of items of cost in respect of
certain
companies.
Brief description of section 73 and 76 : Section 73 of Companies act 2013 prohibits invite, accept or
renew of deposits from public (except for banking and non banking financial company) except
prescribed in manner laid down by Chapter V.
Section 76 allows certain companies to accept deposits from public subject to compliance of
requirements of section 73 (2)
10. Presented By: Dipendra Prasad
Poudel
Matters to be Included in Audit ReportFixed Assets
Inventory
Loans to
covered U/S 189
Deposits
Internal
Control
System
Cost Records
Statutory Dues
Accumulated
losses
Default and
Guarantee of loan
Usage of loan
Fraud
Reporting
Undisputed Statutory Dues : Is company regular in depositing all kind of statutory dues including provident
fund, employees state insurance, income-tax, sales tax, wealth tax, service tax, duty of excise, VAT, cess and
any other statutory dues as at the day of last day of financial year concerned for a period of more than six
months of they become payable shall be indicated by the auditor.
Disputed Statutory Dues : 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 amount$ involved and the forum where dispute is pending shall be mentioned. (A mere
representation to the concerned Department shall not constitute a dispute).
Transferred to investor education and protection fund : 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.
11. Presented By: Dipendra Prasad
Poudel
Matters to be Included in Audit ReportFixed Assets
Inventory
Loans to
covered U/S 189
Deposits
Internal
Control
System
Cost Records
Statutory Dues
Accumulated
losses
Default and
Guarantee of loan
Usage of loan
Fraud
Reporting
In case of those companies 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;
12. Presented By: Dipendra Prasad
Poudel
Matters to be Included in Audit ReportFixed Assets
Inventory
Loans to
covered U/S 189
Deposits
Internal
Control
System
Cost Records
Statutory Dues
Accumulated
losses
Default and
Guarantee of loan
Usage of loan
Fraud
Reporting
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:
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
Please Note : Default and Guarantee of loan has been described under two separate
paragraphs on document released by MCA. I have just merged it to utilize the space.
13. Presented By: Dipendra Prasad
Poudel
Matters to be Included in Audit ReportFixed Assets
Inventory
Loans to
covered U/S 189
Deposits
Internal
Control
System
Cost Records
Statutory Dues
Accumulated
losses
Guarantee of
loan
Usage of loan
Fraud
Reporting
whether term loans were applied for the purpose for which the loans were
obtained;
You might be interested in CSR. Click here to view SlideShare
14. Presented By: Dipendra Prasad
Poudel
Matters to be Included in Audit ReportFixed Assets
Inventory
Loans to
covered U/S 189
Deposits
Internal
Control
System
Cost Records
Statutory Dues
Accumulated
losses
Guarantee of
loan
Usage of loan
Fraud
Reporting
More than 2000 people has gone through single presentation.
Click this link to read Appointment and Qualification of Directors.
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.
15. Presented By: Dipendra Prasad
Poudel
Thank You!!!We are just a step away from being connected. Lets get connected in various social medias.
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