In view of COVID-19 pandemic, the Ministry of Corporate Affairs (MCA) previously issued a circular dated 24th March 2020 which amended the applicability of CARO, 2020 from 1st April 2019 (Financial Year 2019-20) to 1st April 2020 (Financial Year 2020-21).
Further, the MCA vide order dated 17th December 2020 amended the applicability date of Companies (Auditor’s Report) Second Amendment Order, 2020 to the financial years commencing on or after 1st April, 2021 instead of 1st April, 2020.
Financial Year 20-2021: CARO 2016 will be applicable
Financial Year 2021-22: CARO 2020 will be applicable
Source: F-NO. 17/45/2015-CL-V Part I