Assume that you have been appointed as an auditor of a company covered under the Companies (Auditor's Report) Order, 2015. Briefly discuss the matters, which you should include in auditor's report on account of this comp

As per the Companies (Auditor's Report) Order, 2015, an auditor should include a statement on the following matters in the auditor's report on the account of companies covered under this order- Fixed Assets Whether the company is maintaining proper records, showing full particulars, including quantitative details and situation of fixed assets? Whether these fixed assets have been physically verified by the management at reasonable intervals? Whether any material discrepancies were noticed on such verification and if so, whether the same have been properly dealt with in the books of account? Internal Control System Is there an adequate internal control system commensurate with the size of the company and the nature of its business, for the purchase of inventory and fixed assets and for the sale of goods and services? Whether there is a continuing failure to correct major weaknesses in internal control system?