Companies (Auditor's Report) Order, 2020. - S.O. 849 (E) - Companies Law

Auditor reporting obligations expanded to mandate detailed disclosures on assets, loans, compliance, fraud, and governance matters in reports.

Prescribes enhanced auditor reporting obligations under section 143, requiring auditors to include detailed statements on asset records and verification, inventory and bank reconciliations, loans, advances, guarantees and related party transactions, compliance with sections on loans and deposits, statutory dues and disputes, fraud and whistle blower considerations, internal audit adequacy, non cash transactions with connected persons, NBFC/CIC registration and activities, cash losses, auditor resignations, going concern indicators and CSR unspent transfers, and to provide reasons where answers are unfavourable or indeterminate.