3.04 · Managed Services
Audit & Assurance
Statutory and regulatory compliance for Indian subsidiaries, so your India entity meets every requirement under the Companies Act, 2013.
Service docket
- Register no.
- 3.04 · 4 of 4 in desk
- Scope
- 5 items
- Deliverables
- 4
- Process
- 3 steps
- Questions answered
- 2
Named on this page
- Form 3CEB
- Form 3CD
- IFC
01 · Overview
Overview
Running a subsidiary in India comes with a detailed set of compliances, and the Companies Act, 2013 imposes strict penalties on directors and the entity for failures.
Our audit practice acts as a third line of defence for your global board. Beyond signing off the numbers, we test the internal financial controls (IFC) of your Indian unit so that assets are safeguarded and reporting is accurate.
02 · Scope
What we do
Statutory and regulatory audit for Indian companies and foreign subsidiaries.
- 01Statutory audit of financial statements under the Companies Act, 2013
- 02Tax audit (Form 3CD for FY 2025-26 and earlier)
- 03Internal audit of operations, procurement and HR processes
- 04Internal financial controls (IFC) testing
- 05Transfer pricing certification (Form 3CEB for FY 2025-26 and earlier)
03 · Deliverables
Deliverables
What you receive from the engagement.
PER-01Managed Services
Audit report on the financial statements
PER-02Managed Services
Management letter highlighting control weaknesses and improvements
PER-03Managed Services
Tax audit report and TP certificate where applicable
PER-04Managed Services
Internal audit reports with an action tracker
04 · Companies
Who it is for
- 01
Private limited companies, including small subsidiaries
- 02
Foreign groups needing assurance on their Indian unit
- 03
Boards wanting independent review of processes and controls
05 · Process
Audit methodology
Step 01
Planning and scoping
Understand the business and identify key risks in the Indian context
Step 02
Fieldwork and testing
Vouchers, bank statements and physical assets, using ICAI sampling techniques
Step 03
Reporting to the board
The audit report and a management letter
06 · Compliance
Related compliance
Guides and calendars
Forms, registrations and systems named on this page
- Form 3CEB
- Form 3CD
- IFC
07 · Questions
Frequently asked questions
Is a statutory audit mandatory for a small subsidiary?
Yes. Every private limited company in India, regardless of turnover, must have its accounts audited by a Chartered Accountant each year.
When must the audit be completed?
Before the Annual General Meeting, which for most companies must be held within six months of the financial year end, normally by 30 September.
08 · More in this desk
Related services
- Legal, Labour & TechnologyAudit SupportThe extended arm of CPA firms and internal auditors, so partners can focus on the opinion.
- Tax & ComplianceTransfer PricingArm's length pricing for related-party transactions, documented to withstand scrutiny.
- Managed ServicesBookkeeping & AccountingAudit-ready books on QuickBooks Online, Xero, Sage, Zoho Books or Tally.
- Managed ServicesVirtual CFOFinancial leadership without a full-time executive.
Need a hand?
Email info
Discuss Audit & Assurance with us
Tell us about your entity and what you need. We reply with a scope and fee proposal under a formal engagement letter.