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<h1>Rule 10A: Auditors Must Report on Internal Financial Controls for Fiscal Years Starting April 1, 2015, Onwards</h1> Rule 10A of the Companies (Audit and Auditors) Rules, 2014 mandates that for financial years starting on or after April 1, 2015, auditors' reports must include a statement on the existence and operating effectiveness of internal financial controls related to financial statements. Auditors have the option to include this statement voluntarily for the financial year beginning April 1, 2014, and ending March 31, 2015. This rule was inserted in October 2014 and amended in May 2018 to specify 'internal financial controls with reference to financial statements' instead of 'adequate internal financial controls system.'