Auditors' Essentials Combo – CARO with Corporate Practices (Para-wise Commentary) and Tax Audit (Clause-wise Commentary) , Finance Act 2023 Edition ,AYs 2023-24 & 2024-25 book by Srinivasan Anand G

This exclusive combo of two essential books empowers the auditors to conduct seamless audits under the two distinct yet interconnected domains. It includes the following books:

CARO with Corporate Practices authored by Srinivasan Anand G.
Tax Audit authored by Srinivasan Anand G.
The key features of the book are as follows:

CARO with Corporate Practices

This book provides a para-wise commentary on the Companies (Auditors Report) Order (CARO). It is a complete guide on the applicability and the matters that need to be reported by an Auditor on CARO. This book will be helpful for Auditors.

The Present Publication is the 10th Edition and has been amended up to August 2023. This book is authored by CA Srinivasan Anand G and divided into three divisions:

[Division One] Features of CARO 2020 & its Applicability
[Division Two] CARO Reporting as Applicable to Standalone Financial Statements
[Division Three] CARO Reporting as Applicable to Consolidated Financial Statements
The noteworthy features of this book are as follows:

[Corporate Practices] from published annual reports of FYs 2021-22 & 2022-23 are included in the book
[All-about CARO 2020] which includes the following topics:
Features of CARO 2020
Audit Requirements (Other Audits vs Reporting Requirements u/s 143 of the Companies Act 2013)
Clause-wise Analysis & Commentary on Clauses (i) to (xx) of Para 3 & 4 along with Clause (xxi) of Para 3 of CARO 2020
[Para-wise Commentary] dealing with clauses (i) to (xx)
Interpretation Requirements of the Clause in light of the following:
Applicable Legal Provisions
Relevant Standards on Auditing
Revised 2022 Guidance Note of ICAI on CARO 2020
Applicable Requirements of Schedule III of the Companies Act 2013
Requirements of Section 143(1) to (3) applicable to the Clause'
NFRA's Interpretation of the Reporting Requirements of the Clauses and lapses on the part of auditors pointed out by NFRA in Audit Quality Review Reports (AQRR)
Forward Linkages to the following:
Tax Audit Report in Form No. 3CD
Requirements under Section 143(1)/143(3) of the Income-tax Act
Audit Checklists covering the following
Checklist in respect of each CARO Clause
DPT 3 Return Certification
Nidhi Rules Compliances
SA 570 (Revised)
Audit Documentation
Sample Auditors' Remarks under the relevant Clause
Corporate Practices (extracts from the annual reports)
[FAQs & Case Studies] on CARO 2020
[Clause-wise Ready Reckoner] on CARO 2020
Tax Audit

This book comprehensively provides the following:

[Commentary on Tax Audit u/s 44AB] with reference to its applicability to various assessees and appointment of the tax auditor
[Clause-wise Detailed Commentary] on the following:
Form 3CA
Form 3CB
Form 3CD
Clause 30C of Form 3CD pertaining to GAAR explained with foreign case laws
[Detailed Discussion on Presumptive Tax Provisions with Pros & Cons] of the following sections:
Section 44AD
Section 44ADA
Section 44AE
[Income Computation and Disclosure Standards (ICDS)] explained with the following:
Application Guide for each ICDS
Difference between Ind AS/AC & ICDS
Statements showing adjustments for variations between Ind AS/AS & ICDS
[Tax Audit Ready Reckoner] on the following topics:
Management Representation Letters, which are to be obtained by the tax auditor for each Clause of Form No. 3CD
Notes/Comments/Disclaimers to be given regarding each Clause of Form No. 3CD in Clause (3) of Form No. 3CA & Clause (5) of Form No. 3CB
Audit of Cash Transactions
Audit of Share Capital
Audit of Loans, Borrowings and Deposits
Sale of Immovable Property
Applicability of various clauses to different assessees
Clause of Form 3CD not applicable to assessees following cash basis of accounting
Form 3CD – Clause-wise applicability reckoner of ICDS
Statutory provisions relevant to various clauses of Form 3CD
The Present Publication is the 15th Edition and has been amended by the Finance Act 2023. This book is authored by CA Srinivasan Anand G. with the following noteworthy features:

[Practice Pointers] which includes common errors in reporting detected by the ICAI while scrutinising tax audit reports for each Clause of Form No. 3CA, Form No. 3CB and Form No. 3CD
[Consequential Effects on Other Clauses] while reporting in each Clause of Form No. 3CD
[Tax Audit of Companies]; relevant clauses in statutory audit report & CARO report, which are to be cross-checked
[Requirements of various Clauses] of Form 3CA, Form 3CB & Form 3CD are discussed with reference to the following:
e-Filing Utility requirements
Relevant Legal Provisions
Case Laws
CBDT Clarification
Views of the ICAI
[Checklists] are provided for various clauses of Form 3CD
The structure of this book is as follows:

Chapters 0 – 14 provide the obligation of an entity to get the accounts audited u/s 44AB, which is explained in light of presumptive taxation provisions along with the following:
Case Laws
Latest ITR Forms
Views of the ICAI
Chapters 15 – 65 provide a clause-wise commentary on Form 3CD with a Tax Audit checklist for each clause. Linkages with other clauses of Form 3CD, i.e., how remarks on a particular clause impact report under other clauses, are provided in this book. Each clause is explained in light of the following:
e-Filing utility requirements
Relevant Legal Provisions
Case Laws
CBDT's Clarifications
ICDS
Views of the ICAI