A seminar on ‘Reporting requirement under CARO-2015 and Depreciation under Companies Act-2013’ was organised by the Bhubaneswar Branch of the Eastern India Regional Council of the Institute of Chartered Accountants of India here on Saturday.
The seminar was chaired by former chairmen of the Council’s Bhubaneswar branch Rajib Sekhar Sahoo and Arun Kumar Sabat. Speakers opined that the newly-introduced provisions for the companies Act of depreciation have significant impact on the corporate profit with focus on useful life concept from the earlier rate-based report.
The reporting requirements of the auditors have also undergone radical change with the introduction of amendment, they added.
The seminar, attended by 150 delegates from Bhubaneswar, was coordinated by EICASA Chairman Sanjay Kumar Agrawalla and vice-chairman Amit Agarwalla.