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AI Modules/Reporting/CARO 2020
ಕಂಪನಿಗಳ ಕಾಯ್ದೆ · ಆಡಿಟ್ ವರದಿ· प्रतिवेदन

CARO 2020

21 ವರದಿ ಮಾಡುವಿಕೆ clauses. 17 auto-ಪುಸ್ತಕಗಳಿಂದ ಕರಡು ಮಾಡಲಾಗಿದೆ. 4 require ಆಡಿಟರ್ input.

CORAA CARO 2020 with all 21 clauses

CARO 2020 (Companies ಆಡಿಟರ್'s ವರದಿ Order 2020) requires ವರದಿ ಮಾಡುವಿಕೆ on 21 specific clauses across PPE, inventory, loans, deposits, statutory dues, internal controls, fraud ವರದಿ ಮಾಡುವಿಕೆ, ಮತ್ತು more. CORAA auto-drafts 17 of the 21 clauses from books and ಲೆಡ್ಜರ್ data. The remaining 4 require ಆಡಿಟರ್ judgment with documented evidence, physical verification, inventory verification, deposits ಅನುಸರಣೆ, ಮತ್ತು fraud ವರದಿ ಮಾಡುವಿಕೆ.

  • ಎಲ್ಲಾ 21 CARO clauses with sub-clauses rendered
  • 17 clauses auto-ಪುಸ್ತಕಗಳಿಂದ ಕರಡು ಮಾಡಲಾಗಿದೆ, investments, statutory dues, default in repayment, internal ಆಡಿಟ್
  • 4 manual clauses with ಆಡಿಟರ್ input, PPE ಭೌತಿಕ ಪರಿಶೀಲನೆ, inventory verification, deposits, fraud
  • Clause 3(xi)(e), Rule 11(e) ratios variance disclosure auto-populated from Schedule III
  • Each clause anchored to its ಕಂಪನಿಗಳ ಕಾಯ್ದೆ paragraph reference
  • Pending vs Addressed status per clause, partner sees what's outstanding
Two paths, one ledger

The old way, and ours.

Two paths to the same audit conclusion. One leaves traces; the other doesn't.

Traditional

The old way

  • -Senior partner reviews all 21 clauses against books one by one
  • -PPE clause 1 verified against ಸ್ಥಿರ ಆಸ್ತಿ ರಿಜಿಸ್ಟರ್ manually
  • -Inventory clause 2 reviewed against physical verification documents
  • -Statutory dues clause 7 chased through TDS, GST, PF, ESI ಲೆಡ್ಜರ್‌ಗಳು separately
  • -Rule 11(e) ratios computed manually for variance disclosure
Days of partner time. Clauses sometimes addressed late, just before sign-off.
CORAA

On the Ledger

  • 17 auto-drafted clauses ready for partner review on Day 1
  • Investments, guarantees, securities (Clause 3), pulled from books
  • Sec 185 and Sec 186 ಅನುಸರಣೆ (Clause 4), verified against loan ಲೆಡ್ಜರ್‌ಗಳು
  • Statutory dues outstanding (Clause 7), auto-computed across TDS, GST, PF, ESI
  • Default in repayment (Clause 9), bank ಲೆಡ್ಜರ್ ಸಮನ್ವಯ
  • Rule 11(e) variances pulled from Schedule III Ratios tab
21 CARO clauses ready for partner review in two hours. NFRA-inspection defensible.
How it works

Three steps. Every trace logged.

Step 01

Books-derived clauses auto-draft

17 of the 21 CARO clauses derive from books and ಲೆಡ್ಜರ್ data. CORAA reads the relevant ಲೆಡ್ಜರ್‌ಗಳು (loans, investments, statutory dues, current ratio, debt-equity), checks ಅನುಸರಣೆ against ಕಂಪನಿಗಳ ಕಾಯ್ದೆ paragraph references, and drafts each clause.

Step 02

Manual clauses prompt for ಆಡಿಟರ್ input

4 clauses require ಆಡಿಟರ್ input with documented evidence: Clause 1(c) PPE ಭೌತಿಕ ಪರಿಶೀಲನೆ (ಆಡಿಟರ್ confirms with date), Clause 2 inventory physical verification (with discrepancy threshold), Clause 5 deposits ಅನುಸರಣೆ, Clause 7 statutory dues partial confirmation, and Clause 11 fraud ವರದಿ ಮಾಡುವಿಕೆ.

Step 03

Rule 11(e) variance disclosure

Clause 3(xi)(e) requires explanation for any of the 11 financial ratios with variance over 25% vs prior year. CORAA pulls the variances from the Schedule III Ratios tab and prompts the ಆಡಿಟರ್ for the explanation; the disclosure ಶುಲ್ಕds Clause 3(xi)(e) directly.

Inside the module

What you actually get.

21 clauses with paragraph anchors

Every CARO clause is anchored to its ಕಂಪನಿಗಳ ಕಾಯ್ದೆ paragraph reference and CN 2022 (Guidance ಇಲ್ಲte 2022) paragraph. The ಆಡಿಟರ್ knows exactly which statute is being addressed.

  • ›Clause 1: PPE and intangibles
  • ›Clause 2: Inventory verification
  • ›Clause 3: Investments, guarantees, securities
  • ›Clauses 4-21: each paragraph-anchored

17 auto-drafted clauses

Investments (3), Sec 185/186 ಅನುಸರಣೆ (4), statutory dues (7), default in repayment (9), fund diversion (10), term loan application (11), internal ಆಡಿಟ್ (12), and others, all auto-ಪುಸ್ತಕಗಳಿಂದ ಕರಡು ಮಾಡಲಾಗಿದೆ data.

  • ›Investments, guarantees, securities
  • ›Sec 185 and Sec 186 ಅನುಸರಣೆ
  • ›Statutory dues outstanding
  • ›Default in repayment of loans
  • ›Fund diversion check
  • ›Term loan application
  • ›ಆಂತರಿಕ ಆಡಿಟ್ system

4 manual clauses with structured input

PPE ಭೌತಿಕ ಪರಿಶೀಲನೆ (Clause 1(c)) requires ಆಡಿಟರ್ ಗೆ confirm verification date and discrepancies. Inventory verification (Clause 2) similar. Deposits (Clause 5) requires ಅನುಸರಣೆ with Sec 73-76. Fraud (Clause 11) requires ಆಡಿಟರ್‌ನ ವರದಿing under Sec 143(12).

  • ›Clause 1(c) PPE: verification date and discrepancies
  • ›Clause 2 inventory: physical verification ವರದಿ upload
  • ›Clause 5 deposits: Sec 73-76 ಅನುಸರಣೆ
  • ›Clause 11 fraud: Sec 143(12) ವರದಿ ಮಾಡುವಿಕೆ

Rule 11(e) variance disclosure

Clause 3(xi)(e) was added in 2021, requires explanation for any of 11 financial ratios with variance over 25%. CORAA pulls variances from Schedule III Ratios tab and prompts the ಆಡಿಟರ್ for each explanation.

  • ›Current ratio, Debt-equity, DSCR
  • ›ROE, Inventory turnover, Receivable turnover
  • ›Payable turnover, Net capital turnover
  • ›Net profit ratio, ROCE, ROI
  • ›Variance flagged at 25%
Frequently asked

Answers, up front.

17 of 21. Clauses 3 (investments and guarantees), 4 (Sec 185/186), 7 (statutory dues), 9 (default in repayment), 10 (fund diversion), 11 (term loan application), 12 (internal ಆಡಿಟ್), 13 (Sec 188 RPT, when RPT list is set), 16 (registration under RBI), 17 (cash losses), 18 (ಆಡಿಟರ್ resignation), 19 (financial ratios), 20 (CSR), 21 (qualifications/adverse opinion). The remaining 4 require ಆಡಿಟರ್ input.
Clause 1(c) PPE ಭೌತಿಕ ಪರಿಶೀಲನೆ (date and discrepancies above threshold), Clause 2 inventory physical verification (with discrepancy disclosure), Clause 5 deposits ಅನುಸರಣೆ under Sec 73-76, and Clause 14 fraud ವರದಿ ಮಾಡುವಿಕೆ under Sec 143(12). Each prompts the ಆಡಿಟರ್ for the specific evidence required by the ಕಂಪನಿಗಳ ಕಾಯ್ದೆ ಮತ್ತು the ICAI Guidance ಇಲ್ಲte 2022.
CARO 2020 Rule 11(e) requires ಆಡಿಟರ್ ಗೆ ವರದಿ on 11 financial ratios with explanation for any variance over 25% vs prior year. CORAA computes all 11 ratios from Schedule III data, flags variances over 25%, and prompts the ಆಡಿಟರ್ for the explanation. The disclosure ಶುಲ್ಕds Clause 3(xi)(e) and the Schedule III Ratios tab simultaneously.
Most clauses apply to private companies above the size thresholds. Exemptions: private companies with paid-up capital + reserves ≤ ₹1 crore, borrowings ≤ ₹1 crore from banks/FIs, and turnover ≤ ₹10 crore are exempt from CARO entirely. CORAA reads the thresholds from books and disables CARO if all three are met.
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CARO 2020, 21 Clauses, Auto-Drafted Audit Report | CORAA | CORAA