MCA vide order dated 10th April, 2015 in suppression of Companies (Auditor's Report) Order, 2015 has issued Companies (Auditor's Report) Order, 2015 and it shall be applicable to the following class of companies as enumerated below:

Applicability

Every company including a foreign company as defined in sec 2(42) of the Companies Act, 2013 (18 of 2013) [hereinafter referred to as the Companies Act] except –

i. a banking company as defined in sec 5(c) of the Banking Regulation Act, 1949 (10 of 1949);

ii. an insurance company as defined under the Insurance Act,1938 (4 of 1938):

iii. a company licensed to operate under sec 8 of the Companies Act;

iv. a One Person Company as defined under 2(62)of the Companies Act and a small company as defined under sec 2 (85) of the Companies Act; and

v. a private limited company with a paid up capital and reserves not more than Rs.50 lakh and which does not have loan outstanding exceeding Rs. 25 lakh from any bank or financial institution and does not have a turnover exceeding Rs. 5 cr at any point of time during the financial year.