July Regulatory Alerts || Faqonline.org

The regulatory updates publication issued by the Foundation for Audit Quality (FAQ) highlights the latest developments in accounting, auditing and regulatory developments in India and internationally.

Regulatory updates for the month of July 2022

Some of the important updates include the issuance of the revised Guidance Note on the Companies (Auditor’s) Report Order, 2020 (CARO 2020) (revised guidance note) by the Institute of Chartered Accountants of India (ICAI). The revised guidance note has modified the format of reporting for certain clauses and also refers to the disclosures to be provided as per Schedule III of the Companies Act, 2013.

Additionally, the Securities and Exchange Board of India (SEBI) notified the regulations pertaining to establishment of a social stock exchange by amending certain regulations.

This issue of the regulatory updates publication covers some of the important updates on accounting, auditing and regulatory matters for the period from 1 July 2022 to 31 July 2022. It also highlights some of the action points that auditors may consider when applying the relevant provisions.