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 (Registrar of Companies) filings, board resolutions, and secretarial compliance tied to audit findings
Tax Audit
Audit under Section 44AB of the Income Tax Act for companies and entities crossing prescribed turnover/receipt thresholds
Due Diligence Audits
For M&A, investment rounds, or group restructuring involving Indian entities
Internal Audit
Periodic review of internal controls, processes and risk areas. Mandatory for certain classes of companies and recommended for most
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 with books of accounts and annual GST filings
Service Packages
Statutory Essentials
Annual statutory audit +
ROC filing coordination
- Best for Standalone Indian private limited companies
Subsidiary Compliance
Statutory Essentials + group reporting alignment + tax audit
- Best for Indian Subsidiaries of Singapore/foreign parent companies
Full Assurance
Comprehensive audit and governance coverage
- Best for groups needing comprehensive audit and governance coverage
Who This Is For?
Indian private limited companies requiring their mandatory annual audit
Singapore (or other foreign) parent companies with an Indian subsidiary needing local audit compliance coordinated with group reporting
Groups undergoing fundraising, M&A, or restructuring that need due diligence audit support in India
Key Audit Requirements in India
Requirement
Trigger
- Statutory Audit
- Tax Audit (Sec 44AB)
- Internal Audit
- GST Reconciliation (GSTR-9C)
- Audit Report Filing
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 statutory audit mandatory for all companies in India?
Yes. Every company registered under the Companies Act, 2013 must have its financial statements audited annually by a practicing Chartered Accountant, regardless of turnover or size.
Does my Indian subsidiary need a separate audit if our Singapore/overseas parent company is already audited?
Yes. An Indian subsidiary is a separate legal entity and must undergo its own statutory audit under Indian law, in addition to any consolidation or group audit requirements at the Singapore parent level.
What's the difference between a statutory audit and a tax audit?
A statutory audit examines the company’s financial statements for accuracy and compliance under the Companies Act. A tax audit, required once turnover crosses a prescribed threshold, specifically reviews compliance with the Income Tax Act and is filed separately with tax authorities.
Can IBS coordinate the India audit if we're managing everything from Singapore?
Yes — this is a core part of our service. IBS coordinates the India-side audit process with local Chartered Accountants and aligns timelines and reporting with your Singapore operations, so you don’t need to manage two separate processes independently.
When is the statutory audit due each year?
Audited financial statements are generally required to be adopted at the company’s Annual General Meeting and filed with the Registrar of Companies within prescribed timelines after the financial year-end (31 March for most Indian companies).
Do internal audits apply to every company?
No. Internal audit is mandatory only for specific classes of companies based on criteria like turnover, borrowings, or public deposits, though many companies adopt it voluntarily for stronger governance.