Companies (Auditor’s Report) Order, 2003

The Central Government, in exercise of the powers conferred, under sub-section (4A) of section 227 of the Companies Act, 1956 (hereinafter referred to as “the Act”), issued the Companies (Auditor’s Report) Order, 2003, (CARO, 2003) vide Notification No. G.S.R. 480(E) dated June 12, 2003. CARO, 2003 contained certain matters on which the auditors of companies (except of those categories of companies which are specifically exempted under CARO, 2003) have to make a statement in their audit report. The Central Government vide Notification No.GSR.766(E) dated November 25, 2004 amended the said Order and issued the Companies (Auditor’s Report) (Amendment) Order, 2004. The term, “Order”, as used in the following text refers to the CARO, 2003 issued originally in June 2003 as amended the Amendment Order issued in November 2004. The Order supersedes the earlier Order issued in 1988, viz., the Manufacturing and Other Companies (Auditor’s Report) Order, 1988 (MAOCARO, 1988).

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