The Ministry of Corporate Affairs (MCA) issued the Companies
(Audit and Auditors) Amendment Rules, 2021 on March 24, 2021
introducing inter alia new Rules 11(e), 11(f) and 11(g) in the
Companies (Audit and Auditors) Rules, 2014. The Rule 11(g)
deals with reporting on the use of accounting software by a
company for maintaining its books of accounts which has a
feature of recording audit trail. This Rule cast onerous
responsibility on the auditors as scope of reporting under this Rule
is very wide.
I am happy to note that the Auditing and Assurance Standards
Board (AASB) of ICAI has brought out this “Implementation
Guide on Reporting under Rule 11(g) of the Companies (Audit
and Auditors) Rules, 2014” on this new reporting requirement.
The Implementation Guide provides detailed guidance on various
aspects so that they can discharge their duties more efficiently
and effectively. The Implementation Guide specifies various
scenarios for better understanding of the members and enables
them to deal with the practical situations which may be faced by
them while reporting under this Rule.
I compliment CA. (Dr.) Sanjeev Kumar Singhal, Chairman, CA.
Vishal Doshi, Vice-Chairman and other members of the Auditing
and Assurance Standards Board for their efforts in bringing out
this Implementation Guide for the benefit of the members at large.
I am confident that the members and other interested readers
would find this Implementation Guide immensely useful.