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Jay buchjay buch asked 2 years ago

Sir in our exam of new course ca final ind as are applicable.How it will change the reporting requirements of CARO clause 1 and 2.for eg will component based accounting concept or such other changes as made in revised as 10 or ind as 16 will have any impact on caro?

1 Answers
RaviRavi Staff answered 2 years ago

In Clause 1 & 2 we are suppose to comment on method of accounting of fixed assets or inventory , we are not supposed to comment even on books of accounts / ledger of fixed assets and inventory.
we comment on 

  1. Maintenance of fixed asset register
  2. Physical Verification
  3. Discrepancies
  4. Title Deeds of Immovable Property

    In clause 2 we have to comment on 2 & 3 for inventory

    there wont be any impact of Ind AS Applicability and majority things in Ind AS are same as AS, so dont worry about it 

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