# CARO 2020 Compliance Checklist

**Engagement:** _______________________  **FY:** __________  **Preparer:** __________

| Clause | Requirement (summary) | Evidence obtained | WP ref | Status |
|--------|----------------------|-------------------|--------|--------|
| (i)(a) | Fixed asset records — full particulars | Asset register, depreciation | | ☐ |
| (i)(b) | Physical verification of fixed assets | Verification report | | ☐ |
| (ii)(a) | Physical verification of inventory | Stock count report | | ☐ |
| (iii) | Loans/advances/investments Sec 185/186 | Loan register, board minutes | | ☐ |
| (iv) | Compliance Sec 185 & 186 | Approvals, register | | ☐ |
| (v) | Public deposits | Deposit register / N/A | | ☐ |
| (vi) | Cost records (if applicable) | Cost records / N/A | | ☐ |
| (vii) | Statutory dues (GST, PF, IT, etc.) | Challans, reconciliation | | ☐ |
| (viii) | Undisclosed income transactions | Management rep | | ☐ |
| (ix)(a) | Repayment of borrowings | Loan statements | | ☐ |
| (ix)(b) | Term loan utilization | Utilization certificate | | ☐ |
| (ix)(c) | Short-term funds for long-term use | Board note / N/A | | ☐ |
| (x) | IPO/preferential allotment funds | Offer document / N/A | | ☐ |
| (xi) | Fraud by/on company | Whistleblower / N/A | | ☐ |
| (xii) | Nidhi compliance | N/A or NOF ratio | | ☐ |
| (xiii) | Related party transactions | RPT register, disclosures | | ☐ |
| (xiv) | Internal audit system | IA plan, reports | | ☐ |
| (xv) | Non-cash transactions with directors | Board minutes | | ☐ |
| (xvi) | RBI registration (NBFC) | Certificate / N/A | | ☐ |
| (xvii) | Cash losses | Cash flow / P&L | | ☐ |
| (xviii) | Statutory auditor resignation | N/A or letter | | ☐ |
| (xix) | Material uncertainty on dues | Ratio analysis, ageing | | ☐ |
| (xx) | Unspent CSR amount | CSR-2, board report | | ☐ |

**Partner review date:** __________  **Signature:** __________

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