COMPANIES (AUDITOR’S REPORT) ORDER, 2016
It shall apply to every company including a foreign company* except:– 1. B anking company as defined under Banking Regulation Act, 1949; 2. Insurance company as defined under the Insurance Act,1938; 3. a company licensed to operate under section 8 of the Companies Act; 4. One Person Company and small companies** . 5. Private Limited companies(not being subsidiary/holding of a public company) having:- a. Paid-up capital + reserves not more than 1 crore and, b. Loans from bank or any financial institution not exceeding 1 crore and, c. Turnover Total Revenue as per Schedule III not exceeding 10 crores. Auditor's report to contain matters specified in paragraphs 3 and 4 Every report made by the auditor under sectio...