Page 101 - CA Final Audit Titanium Full Book. (With Cover Pages)

CA Ravi Taori
• Auditor of all the companies except as exempted in companies act have to report on adequacy of IFCR
Non-Applicability:
• Reporting on IFCR is required only in case of companies but even there we have some exceptions as explained
in section 143.
• Further it will not be applicable to non-corporate like individuals, partnership, trust, co-operative society etc.
• It will not be applicable to interim financial reporting also like quarterly or half yearly report.
• It will be only applicable to annual financial statements which are presented in AGM.

NOTE: As per Our past experience Concepts & Questions given in main ICAI Module are extremely important &
there are high chances that whole paper will come from here, so we have restricted only SM based content in
Chapters. Further extra content of SA’s given in Index or where module coverage is not adequate is given at the
end as a separate Chapter. So that students can deal with such content separately with different strategy.

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