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?
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
- Maintenance of fixed asset register
- Physical Verification
- 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