Announcement regarding MCA has made amendments in the provision related to Audit Trail and made them effective for FY commencing on or after 01st April, 2022, on request made by the ICAI
April, 06th 2021
Sub: MCA has made amendments in the provision related to Audit Trail and made them effective for FY commencing on or after 01st April, 2022, on request made by the Institute of Chartered Accountants of India
In view of applicability of the amendments made vide notification dated 24th March, 2021 related to the accounting software having feature of audit trail and its reporting in audit report being made effective from the FY 2020-21, the Institute of Chartered Accountants of India had requested the Ministry of Corporate Affairs to issue a clarification on the same as it was creating confusion in the minds of auditor regarding applicability of the said provision.
In this regard, we are happy to inform you that the Government has considered the request of ICAI and issued a clarification stating that the provisions related to Audit trail as provided in Companies (Audit and Auditors) Amendment Rules, 2021 and Companies (Accounts) Amendment Rules, 2021 have been made effective in respect of financial years commencing on or after the 01st April, 2022.