Month: December 2021

The Central Government, in exercise of the powers conferred, under sub-section (4A) of section 227 of the Companies Act, 1956 (hereinafter referred to as “the Act”), issued the Companies (Auditor’s Report) Order, 2003, (CARO, 2003) vide Notification No. G.S.R. 480(E) Read More …

The following is an illustration of a complete auditor’s report incorporating the basic elements set forth and illustrated above. This report illustrates the expression of an unqualified opinion. “AUDITOR’S REPORT (Appropriate Addressee) We have audited the attached Balance Sheet of Read More …

The auditor’s report includes the following basic elements, ordinarily, in the following layout: 1.Title;                                                      Read More …

The auditor should review and assess the conclusions drawn from the audit evidence obtained as the basis for the expression of an opinion on the financial statements. This review and assessment involves considering whether the financial statements have been prepared Read More …

The statutory duties of the auditor cannot be limited in any way either by the Articles or by the directors or members but a company may extend them by passing a resolution at the general meeting or making a provision Read More …

Sub-sections (2) and (3) of section 227 provide that it is the duty of the auditor to report to the members of the company on the accounts examined by him and on every balance sheet and profit and loss account Read More …