Clause 8 of CARO 2016 : Hi Sir ,If loan repayment is irregular during the year and on 30th/31st March of the FY all the late repayment is done ,do we need to report as per CARO as there is no default on the balance sheet date …if yes what should we report ?

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Hi Sir ,If loan repayment is irregular during the year and on 30th/31st  March of the FY all the late repayment is done ,do we need to report as per CARO as there is no default on the balance sheet date  …if yes what should we report ?

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Audit Staff June 20, 2018

yes, still we have to report because we have to report on default. fact that loan is repaid should also be specified.

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