CARO Clause 3(xxi) — Qualifications in Subsidiary Reports
Requires the auditor to report on whether there are any qualifications or adverse remarks in the CARO reports of any subsidiary, associate or joint venture included in the consolidated financial statements.
Related terms
- CARO Clause 3(xviii) — Resignation of Statutory Auditors
Requires the incoming auditor to report whether there has been any resignation of the statutory auditors during the year, and if so, whether they have taken into consideration the issues raised by the outgoing auditor.
- CARO Clause 3(xx) — CSR Spending
Requires reporting on whether the company has transferred unspent CSR amounts to the specified fund within the required timeline, for companies covered under Section 135.
- Cash Credit
A short-term working capital facility against the security of stock and receivables, typically repayable on demand, distinct from a term loan.
- Chart of Accounts
The structured list of every ledger account a company uses to classify its financial transactions, forming the backbone that the trial balance and financial statements are built from.
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