Audit Services in India

Statutory Compliance in India.
Coordinated from Singapore.

IBS provides statutory, tax, and internal audit services for companies operating in India supporting Indian entities, Indian subsidiaries of Singapore/foreign parent companies, and cross-border groups that need audit compliance in India coordinated seamlessly with their Singapore operations.

Statutory Compliance

Audit Excellenc

Cross-Border Coordination

One Trusted Partner

Our Audit Services

Statutory Audit

Mandatory annual audit of financial statements under the Companies Act, 2013, for private and public companies

Statutory Compliance Review

ROC filings, board resolutions, and secretarial compliance tied to audit findings

Tax Audit

Audit under Section 44A8 of the Income Tax Act for companies and entities crossing prescribed thresholds

Due Diligence Audits

For M&A, investment rounds, or group restructuring involving Indian entities

Internal Audit

Review of internal controls, processes and risk areas. Mandatory for certain companies and recommended for mos

Group Reporting Audit Support

Aligning Indian entity audits with parent company reporting timelines (eg, for a Singapore holding company)

GST Audit & Reconciliation Support

Reconciliation of GST returns wi books of accounts and annual GST filings

Service Packages

Statutory Essentials

Annual statutory audit ROC filing coordination

Subsidiary Compliance

Statutory Essentials +group reporting

Full Assurance

Comprehensive audit and governance coverage

Who This Is For?

Indian private limited companies requiring their mandatory annual audit

Key Audit Requirements in India

Requirement

Trigger

Mandatory for all companies registered under the Companies Act, 2013, regardless of turnover

Applicable once turnover/receipts cross prescribed thresholds under the Income Tax Act

Mandatory for listed companies and companies meeting specified turnover borrowing/deposit thresholds; recommended for others

Applicable based on aggregate turnover thresholds under GST law

Filed with ROC as part of annual financial statement filings

Why Choose IBS?

One trusted partner

From Singapore incorporation and ongoing accounting to CFO services and India audit coordination, you work with a single team.

Seamless cross-border coordination

We align audit timelines and reporting requirements for your Indian subsidiary with your group reporting calendar.

Local expertise, global perspective

Our India audit and compliance services are delivered through experienced practicing Chartered Accountants, while IBS remains your dedicated point of contact.

Ready to simplify your India audit compliance?

Let IBS handle your India audit and compliance so you can focus on growing your business.

Frequently Asked Questions

Is a statutory audit mandatory for all companies in India?

Yes. Under the Companies Act, 2013, companies registered in India are generally required to have their financial statements audited by a qualified Chartered Accountant. The requirement applies irrespective of whether the company is privately held, a subsidiary, or part of an overseas group.

Does my Indian subsidiary need a separate audit if our Singapore/overseas parent company is already audited?

What's the difference between a statutory audit and a tax audit?

A statutory audit examines whether a company’s financial statements present a true and fair view and comply with applicable corporate laws and accounting standards. A tax audit, where applicable, focuses specifically on compliance with the requirements of the Income Tax Act and reporting of prescribed tax-related information. Depending on the company’s circumstances, one or both audits may be required.

Can IBS coordinate the India audit if we're managing everything from Singapore?

Yes. IBS can help coordinate the Indian audit process remotely, making it easier for overseas parent companies and management teams to manage their Indian compliance requirements. We can assist with document coordination, communication with auditors, timelines, and other audit-related requirements.

When is the statutory audit due each year?

For most companies, the statutory audit is completed before the Annual General Meeting (AGM), and the audited financial statements are presented to shareholders at the AGM. The AGM is generally required to be held within six months from the end of the financial year, subject to applicable legal requirements and exceptions.

Do internal audits apply to every company?

No. Internal audit is not mandatory for every company. The Companies Act, 2013 prescribes internal audit requirements for certain classes of companies based on factors such as listing status, turnover, borrowings, deposits, and other prescribed criteria. Even where it is not mandatory, an internal audit can be useful for strengthening internal controls, identifying risks, and improving financial and operational processes.