Audit & Assurance
Services in India
PARAMA & Co delivers statutory, internal, tax and forensic audit services as a CAG Category I empanelled firm (NR0554).
200+ global clients served since 1985 - foreign subsidiaries, branch offices, GCCs and listed entities. Led by Partho Sathi Ghosh, FCA, FAFD, DISA, BRSR certified.
Our Services
Our Audit Services
Statutory Audit
CAG Category I qualified. Indian GAAP compliance. Quarterly limited reviews and annual audits. Structured reporting to boards and audit committees.
Internal Audit
Risk-based methodology evaluating internal controls, risk management and operational processes. IFC testing under Companies Act 2013.
Tax Audit
Section 44AB statutory tax audit. Form 3CA/3CB/3CD preparation. Full filing support for timely return submission.
Transfer Pricing Audit
Form 3CEB (Form 48) under Section 92E. Benchmarking studies, documentation and representation before Transfer Pricing Officers.
Forensic Audit & Fraud Detection
Investigation of fraud and financial irregularities. Led by FAFD-certified partner (Partho Sathi Ghosh). Assists regulators, boards and audit committees.
Financial Due Diligence
Financial, tax and secretarial due diligence for M&A, private equity and joint ventures. Independent assessment of risks and exposures.
Management Audit & MIS
Management audit evaluating process efficiency. Structured MIS reporting to parent entities in home-country compatible formats.
Risk Assurance & IFC
IFC design, implementation and testing. Process documentation and control testing. Management reporting. BRSR advisory.
Secretarial Audit
Form MR-3 under Section 204 for listed and public companies. CS Compliance Certificates (Form MGT-8). SEBI intermediaries audit.
Special Purpose Audit
Stock audit, ERP/SAP process audit, performance audit, FCRA compliance audit for NGOs and foreign-funded organisations.
Reference
Audit Type Reference Table
A quick reference for which audit applies to your organisation and who conducts it.
| Audit Type | Who Needs It | Conducted By | Key Output |
|---|---|---|---|
| Statutory Audit | All companies incorporated in India | Chartered Accountant | Auditor's Report under Companies Act |
| Tax Audit | Turnover >Rs.1Cr (business) / Rs.50L (professional); or >Rs.10Cr with no cash transactions | CA | Form 3CA/3CB + 3CD / Form 26 |
| Transfer Pricing Audit | International transactions exceeding Rs.1Cr in aggregate | CA | Form 3CEB / Form 48 |
| Internal Audit | Turnover above Rs.200Cr or paid-up capital above Rs.50Cr (and others) | CA | Internal Audit Report |
| Secretarial Audit | Listed companies; public companies with capital >Rs.10Cr | Company Secretary | Form MR-3 |
| Forensic Audit | Where fraud or financial irregularities are suspected | CA with FAFD certification | Forensic Investigation Report |
FAQs
Audit & Assurance FAQs
Is PARAMA & Co qualified to audit public sector companies?
Yes. CAG Category I empanelment (NR0554) - the highest category - qualifies us to audit Central Government companies, PSU banks, foreign subsidiaries and not-for-profit entities.
Is a statutory audit mandatory for all Indian companies?
Yes. Every company incorporated in India - regardless of turnover - must have its financials audited by a CA under Section 139 of the Companies Act 2013.
Does PARAMA & Co audit foreign subsidiaries in India?
Yes - this is a core service area. We audit foreign subsidiaries, branch offices, liaison offices and project offices, and provide MIS reporting to parent entities in home-country formats.
What is IFC and does it apply to foreign subsidiaries in India?
Internal Financial Controls (IFC) testing is mandatory under the Companies Act 2013 for applicable companies. PARAMA & Co designs, implements and tests IFC frameworks and includes this as part of our annual statutory audit engagement for eligible clients.
Request an Audit Proposal
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