Publisher's Synopsis
With the Companies Act, 2013 operationalised for more than 3 years, financial reporting is a significant area for the corporates, professionals and 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 under the relevant topics covered by the publication in a lucid style.
Key features
· Section-wise analysis of Chapter IX - Accounts of Companies, Chapter X - Audit and Auditors, Loans and investments, Related party transactions and other related sections 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 Standing Committee report on Companies (Amendment) Bill, 2016;
ü Companies (Amendment) Bill, 2016 with changes proposed in Chapter IX and X;
ü New/revised Standards on Auditing applicable for audits of financial statements for periods beginning on or after 1 April 2017.
