humCAfar | BEING CHARTERED

CARO 2016 Memory technique / Memory Map to remember the newly introduced CARO 2016 Matters to be included in the auditor’s report.  – The auditor’s report on the accounts of a company to which this Order applies shall include a statement on the following matters, namely:- (i) (a) whether the company is maintaining proper records showing full particulars, including quantitative details and situation of fixed assets; (b) whether these fixed assets have been physically verified by the management at reasonable intervals; whether any material discrepancies were noticed on such verification and if so, whether the same have been properly dealt with in the books of account; (c) whether the title deeds of immovable properties are held in the name of the company. If not, provide the details thereof; (ii) whether physical verification of inventory has been conducted at reasonable intervals by the management and whether any material discrepancies were noticed and if so, whether

CA Final Memory Techniques /  Memory Maps Audit - Professional Ethics Part I Schedule 1  1. Use of name by others  2. Sharing of fees with others  3. Accepting fees of others  4. Entering into partnership with others  5. Securing Work through wrongful means  6. Soliciting Clients  7. Advertising Professional attainments  8. Communication with previous auditor 9. Compliance with Companies Act 2013  10. Charging fees on % of turnover/performance  11. Engaging in other services/business/occupation  12. Signing by others  To remember the above clauses in exam, just recall two famous stars of bollywood industry: NANA PATEKAR SHILA SHETTY So the memory technique or mind map goes as follows:- NANA PATEKAR ASKS PARTNER SHILPA SHETTY ABOUT CA PROSPECTS BEING IN SOUTH.      1. NANA - ALLOWS TO USE HIS N AME    2. PATEKAR - P AYS FEES    3. ASKS - A CCEPTS    4. PARTNER - ENTERING INTO P ARTNERSHIP.    5. SHILPA - S ECURING WO