Auditor's Report Order applicability clarified; specified company categories exempted and conditional private company exclusions set. Companies (Auditor's Report) Order, 2020 prescribes the short title, scope and commencement under section 143(11) of the Companies Act, 2013 and ... Summary
Auditor's Report Order applicability clarified; specified company categories exempted and conditional private company exclusions set.
Companies (Auditor's Report) Order, 2020 prescribes the short title, scope and commencement under section 143(11) of the Companies Act, 2013 and supersedes the 2016 Order. It applies to all companies including foreign companies, subject to exclusions for banking and insurance companies, section 8 companies, One Person Companies, small companies and certain private limited companies that meet prescribed limits on capital, borrowings and revenue. The Order was issued after consultation with the National Financial Reporting Authority and came into force on publication in the Official Gazette.
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