● Reporting to Central Goverment: As per Section 143 of Companies Act, 2013 if auditor has reason to believe that offence involving fraud (of amount Rs 1 Cr or more) has been committed against the Company by its officers or employees, it is to be reported to the CG.
Fraud below this threshold is reported to Audit Commitee/Board of Directors
● Reporting in CARO 2020: Auditor has to report the details of the fraud in the clause xi of CARO.
