Statutory Audit Services

Statutory Audit Services is a key regulatory filing administered by Ministry of Corporate Affairs (MCA) — for compliance monitoring; **National Financial Reporting Authority (NFRA)** — for accounting / auditing standards enforcement for prescribed classes (since 1 October 2018); **ICAI (Institute of Chartered Accountants of India)** — for prescribing Standards on Auditing (SAs) and regulating the profession under Chartered Accountants Act 1949; **SEBI** — for listed entities under SEBI (LODR) Regulations 2015.. Filing is executed via **ADT-1** (intimation of appointment of auditor by company — within 15 days of Board meeting under Rule 4(2) of Companies (Audit and Auditors) Rules 2014 — in any case by 30 September); **ADT-2** (application by auditor for resignation — within 30 days of resignation, filed by the auditor with the company + RoC); **ADT-3** (intimation of resignation by company — within 30 days of resignation — same as ADT-1 procedure for new auditor); **Form 23ACA** (now withdrawn — old e-Form for filing auditor's report; currently the auditor's report is attached to AOC-4 as PDF). under Companies Act, 2013 — **Section 139** (appointment of auditor — s.139(1) first auditor by members within 30 days of incorporation / s.139(2) auditor rotation for listed + prescribed classes / s.139(5) casual vacancy / s.139(6) Board appointment if members fail / s.139(8) continuation of auditor in case of government company / s.139(9) ratification at every AGM — withdrawn w.e.f. 2017 amendment / s.139(10) failure to appoint / s.139(11) resignation); **Section 140** (removal / resignation of auditor — Form ADT-2 by auditor + Form ADT-3 by company); **Section 141** (eligibility, qualifications and disqualifications of auditors); **Section 142** (remuneration of auditors — fixed by members in general meeting / by Board with members' approval); **Section 143** (powers and duties of auditors — s.143(1) right to access books / s.143(2) duty to inquire into specified matters / s.143(3) auditor's report contents / s.143(10) reporting on internal financial controls / s.143(12) reporting of fraud ≥ ₹1 crore to CG within prescribed timeline / s.143(13) signing of auditor's report / s.143(14) penalty for non-compliance); **Section 144** (prohibitions on auditor — non-audit services); **Section 145** (auditor to sign auditor's reports — with UDIN since 2019); **Section 146** (auditor to attend general meeting); **Section 147** (penalty for non-compliance with ss.139 to 146); Companies (Audit and Auditors) Rules 2014 — Rule 3 (companies whose auditor must be rotated — listed + PUC ≥ ₹10 cr); Rule 4 (auditor's report under s.143(3)); Rule 5 (class of companies required to appoint internal auditor under s.138); Rule 6 (companies required to constitute audit committee); Rule 9 (manner of rotation of auditors — s.139(2)); Rule 10 (fraud reporting by auditor — s.143(12)); Rule 11 (other matters to be included in auditor's report); Rule 12 ( NFRA — applicability); Rule 13 (audit of cost records — s.148); NFRA Rules 2018 (notified 1 October 2018 — NFRA jurisdiction over listed companies + unlisted PUC ≥ ₹500 cr + turnover ≥ ₹500 cr companies + banks + insurance companies + companies with non-resident Indian auditors).. Our specialist-led team ensures full compliance with statutory documentation, eligibility verification, and expedited government approval.