FROM PUBLISHED ACCOUNTS

Compilers’ Note: The Ministry of Corporate Affairs, on 25th February 2020, notified the Companies (Auditor’s Report) Order, 2020 (CARO 2020) in supersession of CARO 2016. It was initially applicable to audit reports for financial years commencing on or after 1st April 2019, but on account of Covid-19 was initially deferred to 1st April 2020 and finally to 1st April 2021. The clauses and sub-clauses under CARO 2020, which now need to be reported, are more than doubled.

Below is an instance of reporting under CARO 2020 by Infosys Ltd – one of the early reports issued.

INFOSYS LTD (Y.E. 31ST MARCH, 2022)

Auditors’ Report on Standalone Financial Statements

To the best of our information and according to the explanations provided to us by the Company and the books of account and records examined by us in the normal course of audit, we state that:

i. In respect of the Company’s Property, Plant and Equipment and Intangible Assets:

(a)    (A) The Company has maintained proper records showing full particulars, including quantitative details and situation of Property, Plant and Equipment and relevant details of right-of-use assets.

    (B)    The Company has maintained proper records showing full particulars of intangible assets.

(b)    The Company has a program of physical verification of Property, Plant and Equipment