Statutory Audit
Quick Reference for Your Business
Companies Act & LLP Audit – Who Must Get Audited • Due Dates • Penalties
01
Who Must Have A Statutory Audit
| Entity | Requirement |
|---|---|
| Every company | Mandatory — all companies, regardless of size or turnover (Sec 143) |
| LLP | If turnover > ₹40 lakh OR contribution > ₹25 lakh |
| Auditor term | Appointed for 5 years (Sec 139); first auditor within 30 days of incorporation |
02
Due Dates
| Item | Detail |
|---|---|
| ADT-1 (auditor appointment) | Within 15 days of the AGM |
| AGM | Within 6 months of FY-end (first AGM within 9 months) |
| Audited accounts | Signed before the AGM; filed via AOC-4 |
03
Penalty for Default
Audit / report default (Sec 147)
Company and officers face monetary penalties; auditor liable for professional lapses.
Non-appointment of auditor
Attracts penalty and the auditor may be appointed by the authorities.
Note: Statutory audit is non-negotiable for companies — even a dormant or loss-making company must be audited every year. The audited accounts feed your ROC filing (AOC-4) and tax audit (Form 3CA). Missing it cascades into ROC penalties and director disqualification risk.
04
Why Clients Trust M/s Durganjali & Associates
A real, qualified Chartered Accountant
A practising CA who conducts a clean statutory audit and keeps your ROC and tax filings aligned.
Audits that hold up
Proper working papers and documentation that stand up to regulators, banks and the department.
Deadlines never missed
We track every due date so penalties never catch you off guard.
Clear updates in your language
Simple updates in Telugu and English — you always know where things stand.
Honest, practical advice
Straight answers you can act on — no jargon, no overselling.
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