Is Statutory Audit Compulsory for a Private Limited Company?

Yes. Every Private Limited Company in India must get its accounts audited every year by a practising Chartered Accountant (CA). This rule comes from the Companies Act, 2013. It applies to all private companies, whether they earn profit, make a loss or have no business at all.

There is no audit exemption for a private company based on its size or turnover. A new company with no sales must also appoint an auditor and get its accounts audited for the first financial year.

CA Arpit Gupta helps founders, directors and owners of Private Limited Companies with statutory audit, auditor appointment, ROC filings and the related tax work.

What Is a Statutory Audit for Private Limited Company?

A statutory audit is an independent check of the company's balance sheet, profit and loss account and other financial statements. The auditor tests whether the figures are correct and whether they give a true and fair view of the company's financial position. The result is the Auditor's Report, which is signed by the CA and carries a UDIN.

The audited accounts are then approved by the directors, adopted by the shareholders and filed with the Registrar of Companies (ROC).

Why Does a Private Limited Company Need an Audit Every Year?

• It is the law
• ROC filings depend on it
• Audited accounts give a firm base for the company's return
• Banks, angel investors and venture funds ask for audited statements
• Many buyers ask for audited accounts of the last few years
• Clean records
• Protection for directors

What Other Compliance Is Linked with the Audit?

• Form MSME-1
• Form DPT-3
• Statutory registers and minutes
• Related party dealings
• Director loans
• GST, TDS and PF or ESI returns

What Documents Are Required for Private Limited Company Statutory Audit?

• Certificate of Incorporation, MOA and AOA
• PAN, TAN and GST details of the company
• Trial balance and ledgers
• Bank statements for the full year
• Sales and purchase invoices
• Expense vouchers and bills
• Fixed asset register and purchase papers
• Stock details and stock count records
• Loan statements and agreements, including director loans
• Debtor and creditor lists with balances
• GST returns, TDS returns and tax payment challans
• Salary registers, PF and ESI records
• Share capital details, allotment papers and statutory registers
• Minutes of board and general meetings
• Details of related parties and their transactions
• Major agreements and legal papers
• Previous year's audited accounts, Income Tax Return and ROC forms

If your books are not ready, we can help you complete or correct them before the audit begins.

How Does Our Statutory Audit Process Work?

1. Call or WhatsApp us on +91-7081220600
2. Tell us about your company like date of incorporation, turnover, capital and the filing status
3. We check whether you are a small company and which reports apply
4. We check our independence and share the proposal and fee
5. The auditor is appointed with consent, eligibility certificate and Form ADT-1
6. We share the document list and the audit timeline
7. You share the books and records
8. We audit the accounts and check entries, balances, bank records, loans and statutory dues
9. We discuss the findings and the corrections needed
10. We finalise the financial statements and the Auditor's Report with UDIN
11. We prepare the AGM papers and file AOC-4 and MGT-7 or MGT-7A
12. We remind you about the next due dates

Why Choose CA Arpit Gupta for Statutory Audit of Private Limited Company?

• Practising Chartered Accountant
• Small company check
• Complete ROC support
• Startup-friendly
• Help with old defaults
• We point out risks and give practical suggestions
• One CA for all needs
• Easy contact

Get Your Private Limited Company Audit Done on Time

Do not let late fees and director disqualification build up. Share your company details with CA Arpit Gupta, and we will plan and complete your statutory audit and the ROC filings.

Call or WhatsApp CA Arpit Gupta at: +91-7081220600.