ICAI Multiple Choice Questions (MCQs) on Guidance Note on CARO 2020

ICAI Multiple Choice Questions (MCQs) on Guidance Note on CARO 2020

The Ministry of Corporate Affairs issued the Companies (Auditor’s Report) Order, 2020 (CARO 2020) on 25th February 2020 which was initially applicable for the financial years commencing on or after the 1st April, 2019.

However, due to Covid-19 pandemic,  its applicability has been extended  for statutory audits of financial statements for periods beginning on or after April 1, 2020.

In order to supplement Guidance Note on the Companies (Auditor’s Report) Order, 2020, the ICAI has released a publication called “Multiple Choice Questions (MCQs) on Guidance Note on the Companies (Auditor’s Report) Order, 2020”. 

Download ICAI MCQs on Guidance Note on CARO 2020 >>

• AO is under an obligation to assign reasons for rejecting explanation of the assessee
• CBIC issues SoP for clearance of imported goods through Foreign Post Offices
• Sale deed executed with full knowledge of only part consideration paid, not void – SC
• No fault in serving notice to last known address when PAN data was not updated – ITAT
• Investment by firm through capital introduced by partners cannot be treated as unexplained