News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Professional Updates »
 Educational Material on Indian Accounting Standards 20, Accounting for Government Grants and Disclosure of Government Assistance
 Empanelment of CA Firms as Technical Reviewers for National Financial Reporting Authority (NFRA).
 Advanced ICITSS is Scheduled on Sundays, the 15th March, 2020 and 12th April, 2020 from 10.30 AM to 12.30 PM (IST).a
 ICAI Invites Suggestions on Tax Proposals of Union Budget 2020-21.
 Special Examinations - MRA / MOU, June 2020
 Empanelment of Members to act as Observers at the Examination Centres for The Chartered Accountants Examinations May, 2020
 CPE Events 27th January -1st February 2020
 Register for Fourth Exclusive Batch of German Language (120 hours) for ICAI Members and Students at Delhi. Last Date - 29th January, 2020
 CMI&B of ICAI is conducting 51st Campus Placement Programme in the month of Feb-March, 2020.
 Office hours arising out of Security Arrangements for Republic Day - 2020
 Certificate Course on Forex and Treasury Management –Forthcoming Batches at Noida & Mumbai

Clarification on Auditors 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)

Home | About Us | Terms and Conditions | Contact Us
Copyright 2020 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting