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TMI BlogCompanies (Auditor's Report) Order, 2015X X X X Extracts X X X X X X X X Extracts X X X X ..... mber G.S.R. 480 (E), dated the 12 th June, 2003, except as respects things done or omitted to be done before such supersession, the Central Government, after consultation with the Institute of Chartered Accountants of India, constituted under the Chartered Accountants Act, 1949 (38 of 1949), hereby makes the following Order, namely:- 1. Short title, application and commencement. - (1) This order may be called the Companies (Auditor's Report) Order, 2015. (2) It shall apply to every company including a foreign company as defined in clause (42) of section 2 of the Companies Act, 2013 (18 of 2013) [hereinafter referred to as the Companies Act], except - (i) a banking company as defined in clause (c) of section 5 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tative details and situation of fixed assets; (b) whether these fixed assets have been physically verified by the management at reasonable intervals; whether any material discrepancies were noticed on such verification and if so, whether the same have been properly dealt with in the books of account; (ii) (a) whether physical verification of inventory has been conducted at reasonable intervals by the management; (b) are the procedures of physical verification of inventory followed by the management reasonable and adequate in relation to the size of the company and the nature of its business. If not, the inadequacies in such procedures should be reported; (c) whether the company is maintaining proper records of inventory and whe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Central Government under sub-section (1) of section 148 of the Companies Act, whether such accounts and records have been made and maintained; (vii) (a) is the company regular in depositing undisputed statutory dues including provident fund, employees' state insurance, income-tax, sales-tax, wealth tax, service tax, duty of customs, duty of excise, value added tax, cess and any other statutory dues with the appropriate authorities and if not, the extent of the arrears of outstanding statutory dues as at the last day of the financial year concerned for a period of more than six months from the date they became payable, shall be indicated by the auditor. (b) in case dues of income tax or sales tax or wealth tax o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 4. Reasons to be stated for unfavourable or qualified answers .- (1) Where, in the auditor's report, the answer to any of the questions referred to in paragraph 3 is unfavourable or qualified, the auditor's report shall also state the reasons for such unfavourable or qualified answer, as the case may be. (2) Where the auditor is unable to express any opinion in answer to a particular question, his report shall indicate such fact together with the reasons why it is not possible for him to give an answer to such question. [File No. 17/45/2015-CL-V] Amardeep Singh Bhatia Joint Secretary to the Government of India - Notification Tax Management India - taxmanagementindia - taxmanagement - taxmanagementin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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