Finance Stringent disclosure norms for auditor reports of companies put in place Updated : February 27, 2020 09:12 AM IST The corporate affairs ministry has notified the Companies (Auditor's Report) Order, 2020 (CARO, 2020). It would be applicable for audit of financial statements of eligible companies for the financial years commencing on or after April 1, 2019. The ministry noted that the latest CARO is expected to significantly improve the overall quality of reporting by auditors on the financial statements of the companies. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.