Hello everyone, want to share a interesting point, some of you must have noticed it, its relevant for CARO. It can be used to get many advantages.

Private company which is subsidiary of public company will be deemed to be public company taking away all benefits of private company.

But to boost foreign companies and increase ease of doing business in India, MCA clarified that status of private company which is subsidiary of foreign holding company will not change that means deeming provisions will not be applicable to them. (Earlier 100% should be held by one or more foreign bodies was required, now there is no such condition )

so be careful in exams in such cases company can get exemption from CARO. And in practical life you can have added advantage.


Out of the box by ICAI (CA Final Audit Nov 16 Paper Analysis) “Though not difficult but definitely out of the box paper by ICAI”

• Only 37 marks out of 116 from Practice Manual / Past Papers last time it was around 60

• No question was asked from Nov 16 RTP, last time around 12 marks were asked

• Case Study of only 4 marks from Professional Ethics, generally it is 16 marks case studies which are most scoring, Other 2 questions were simple but theory based.

• Company Audit & CARO accounted for 16 marks which were for 28 marks last time.

• Around 60 marks questions from small chapters which were asked for 40 marks last time. But the big change is many questions were new from remote corners of module, last time they were from PM.

• Once in 3-4 attempts you get such paper.

• If some has good conceptual knowledge they would have written good answers, may not be exact as expected, but they can expect reasonable marks.

• All above things are justified by ICAI as it is a CA Final examination, which is one of the toughest in the world.

• It appears as if, examiner studied books & notes of all popular professors, then marked areas of module (2073 Pages) which were left out by all, as they were never asked for so many exams. And then many questions were asked from such remote corners of module.

• I expect checking will be lenient.

Read more at: https://www.caclubindia.com/articles/out-of-the-box-audit-paper-ca-final-nov-16-28166.asp