Publisher's Synopsis
With the Companies Act, 2013 operationalized for more than 3 years, financial reporting is a significant area for the corporates, professional, finance directors in India. The auditor's responsibilities have become onerous and extended as compared to the erstwhile legislation. This book focuses on key implementation issues with regard to financial reporting and audit requirements for companies, as per the revised provisions of the 2013 Act, together with the corresponding provisions of the Companies Act 1956 in a user friendly manner. All relevant rules, notifications, circulars, forms, issued by the Ministry of Corporate Affairs have been analysed and discussed in the relevant topics covered by the publication in a lucid style.
Key feature
· Section-wise analysis of Chapter IX - Accounts of Companies, Chapter X - Audit and Auditors and other related section with implementation issues;
· Comparison of Companies Act, 2013 with the erstwhile Companies Act, 1956;
· Clause-wise commentary on CARO 2016 with Illustrative reporting;
· For ease of reference, relevant rules, notifications, circulars included in each chapter;
· Relevant announcements and clarifications issued by ICAI on Ind AS & IFRS discussed in detail along with the provisions of the 2013 Act;
· Reader friendly presentation of topics through diagrams, charts and examples;
· Detailed checklist on financial reporting provisions under the Companies Act, 2013;
· Relevant references of:
ü Companies (Amendment) Bill, 2016 with changes proposed in Chapter IX and X;
New/revised Standards on Auditing issued by ICAI in May 2016.
