Ministry of Corporate Affairs which had earlier mandated that effective 1-4-2021 all companies (including S.8 companies) must use an accounting software, where any changes in an accounting entry made must be identified and auditor must be able to track the same. Instruction given by the Ministry of Corporate Affairs required that all Accounting Software must have a feature of recording audit trail (edit log) facility, and auditor needs to report on the same.
However realizing the difficulties that companies may face, as presently such accounting software are not readily available, MCA has now postponed the applicability of software with such Audit features to 1st April 2022 instead of 1st April 2021.
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