Companies Act 2013 Schedule III requires extensive Notes to Accounts: 32 in Division I, more in Division II for Ind AS. CORAA composes every Note automatically from the Universal Audit Ledger. Each Note shows CY versus PY side by side, preserves version history per edit, and supports inline drill to constituent ledgers. Note 5 Long-term Borrowings, Note 8 Trade Payables MSME, Note 11 PPE, Note 23 Contingent Liabilities, Note 30 RPT, and 27 more.
Two paths to the same audit conclusion. One leaves traces; the other doesn't.
Each Note has a template tied to its Schedule III line. The template specifies which UAL data populates which field. Example: Note 5 Long-term Borrowings pulls from ledgers classified as Schedule III Line A3, with sub-classification by Secured / Unsecured.
The Notes to Accounts tab on the Schedule III Working Paper lists all 32 Notes. Click any Note to see Current Note, vs PY Note, and Edit History. Reviewer adds comments inline, accepts the figures, and marks the Note Reviewed.
When all Notes are Reviewed, the partner marks the entire Notes pack Final. Further edits after Final require a documented re-evaluation note per SA 230 and create a new version.
Every Schedule III Note has a structured template that maps to UAL data. Examples below.
Every Note carries a CY vs PY toggle. The disclosure is rendered for both years simultaneously so the reviewer compares without switching files.
Every edit creates a new version of the Note. The Edit History tab shows who changed what, when, and the reason. Reverts supported until Final state.
Notes flow through Draft → Reviewed → Final. Articles draft, partner reviews and marks Reviewed, partner finally marks the pack Final. Post-Final edits require documented re-evaluation per SA 230.
