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 Board of Internal Audit and Management Accounting of ICAI is organizing Webinar on "Identifying Red Flags and Report Writing by Internal Auditors" - March 27,
 Revised Applicability of Peer Review Mandate (Phase II & III)
 Important Announcement - Reschedulement of Chartered Accountant Examinations, May 2024
  IMPORTANT ANNOUNCEMENT
 Extension of Last Date for Online Empanelment of Members to act as Observers for May/June 2024 Examinations up to 15th March 2024
 Empanelment of Members to act as Observers at the Examination Centres for the Chartered Accountants Examinations May/June 2024
 Guidance Note on Audit of Banks (2024 Edition)
 Issuance of SA 800 (Revised), SA 805 (Revised), SA 810 (Revised)
 Implementation Guide on Reporting on Audit Trail under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 (Revised 2024 Edition) - (12-02-2024)
 Important Announcement for May-June 2024 CA Examinations
 Draft Bank Branch Auditors' Panel (MEF) for the year 2023-24

Clarification on Auditor’s Certificate on Return of Deposits pursuant to Rule 16 of the Companies (Acceptance of Deposits) Rules, 2014
June, 26th 2019

Clarification on Auditor’s Certificate on Return of Deposits pursuant to Rule 16 of the Companies (Acceptance of Deposits) Rules, 2014 

This has reference to Rule 16 of the Companies (Acceptance of Deposits) Rules, 2014 and further amendments. 

In this regard, the Ministry of Corporate Affairs vide its letter no. File No: P-01/08/2013- CL-V Vol. VI dated June 24, 2019 has clarified on the matter as under:

  • The Auditor’s Certificate is mandatory only in case of return of deposits. 

  • For filing particulars of transactions not considered as deposits information contained therein as on 31st March of that year need not be from the duly audited Financial Statement. 

  • Only in case of Return of Deposit information contained therein as on 31st March of that year should be from duly audited financial statement of the company. 

Also in order to provide guidance to members, the Auditing and Assurance Standards Board of ICAI has issued Illustrative Auditor’s Certificate on Return of Deposits, which is available on the below cited link: 



Illustrative Auditor’s Certificate on Return of Deposits as at [state the year end] pursuant to Rule 16 of the Companies (Acceptance of Deposits) Rules, 2014, as amended 


(Chairman & Vice Chairman, Auditing and Assurance Standards Board)

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