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WORKSHOP ON SCHEDULE III AND CARO 2020

April 8, 2022 @ 5:00 pm - April 9, 2022 @ 7:00 pm

The Accounting & Auditing Committee of The Chamber of Tax Consultants has organised a workshop on Schedule III and CARO 2020 on 8th & 9th April, 2022.

Participation Fees:-

CTC Student Members- Rs. 200/- + Rs. 36/- (GST) = Rs. 236/-
CTC Members – Rs. 400/- + Rs. 72/- (GST) = Rs. 472/-
Non-Members – Rs. 600/- + Rs. 108/- (GST) = Rs. 708/-

Participation Fees to be paid online on the website: CLICK HERE to make payment

The details of the workshop which will be held via Zoom are as follows:

Sr. No.

Day, Date & Time

  Topics

 Coverage

 Speakers

1

Friday,
08.04.2022
05.00 PM – 07.00 PM

 Schedule III –Revision

1. Changes introduced
2. Highlighting implementation challenges
3. Practical challenges –
a) Comparative numbers
b) IT challenges
c) Ratio analysis
4. Changes required in Management representation letter
5. Working papers – improvement required
6. Practical audit challenges & how to overcome with adequate documentation

 CA Yogesh Amal

Chairman-
CA Jayesh Gandhi

2

Saturday,
09.04.2022
10.30 AM – 12.30 PM
 

 CARO 2020 and main audit report

1. Highlighting changes
2. Practical issues and examples of reporting
a) Reporting about loans and advances and borrowings
b) Calculation of cash loss -Ind AS and non Ind AS examples
c) Short term funds used for long term purposes – how to determine (including linkage with AS-3 cashflow)
d) Disclosure of income during tax assessments/search
e) Verification of returns filed with bankers
f) Utilization funds
g) Reporting about subsidiaries not audited by auditor.
h) Willful defaulter & its reporting
i) Restatement of accounts (implication of cash loss and other figures reported in CARO)
3. Linkage between CARO 2020 and schedule III changes required in management representation letter

 CA Hemal Shah

Chairman-
CA Vijay Maniar


The Zoom link for joining the webinar will be shared prior to the session.

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Details

Start:
April 8, 2022 @ 5:00 pm
End:
April 9, 2022 @ 7:00 pm