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Ten matters required to be reported under CARO, 2003
[Submitted by Divya Balasubramanian
Gurgaon]
November 13, 2006
- Physical verification, quantitative details about situation of Fixed
Assets
- Reasonableness and adequacy of inventory verification procedure
- Whether loans are secured or unsecured to/from companies [Section
301]
- Adequacy of internal control procedure
- Transactions that need to be entered into register [Section 301]
- Acceptances of deposits and compliance - statutory requirements
- Internal audit system in case of listed companies, companies having
paid up capital and reserves exceeding Rs 50 Lakhs, having average
turnover exceeding Rs 5 crores for 3 consecutive financial years.
- Maintenance of cost records under Section 209(1)(d) [Central
Government}
- Statutory dues
- Loss making companies, which has been registered for period not less
than 5 years.
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