Last updated: 14 Oct 2026

Virtual Auditor

Compliance Audit Services India

Last updated: 14 Oct 2026

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Quick answer: Compliance audit services provide a structured review of an organization's adherence to statutory and regulatory requirements, including the Companies Act, FEMA, SEBI, RBI, and labor laws. These audits are used for internal reviews, regulator-mandated inspections, or M&A readiness. The process involves document collection, regulatory analysis, and a risk-rated finding register.

Multi-regulatory compliance audit. Companies Act, FEMA, SEBI, RBI, labour laws, GST. Comprehensive compliance health check.

Our Approach

We combine deep regulatory expertise with AI-powered tools to deliver accurate, defensible, and timely results. Every engagement is led by CA V. Viswanathan, ensuring senior-level attention.

Contact Us

Chennai (HQ): G-131, Ground Floor, Phase 3, Spencer Plaza Mall, Anna Salai, Chennai. Phone: +91 99622 60333.

Bangalore: 7th Floor, Mahalakshmi Chambers, 29, MG Road, Bangalore. Phone: +91 95139 39333.

Mumbai: Workafella, AK Estate, SV Road, Goregaon West, Mumbai. Phone: +91 77000 89597.

What has changed in the law — reviewed October 2026

  • Income-tax Act, 2025: assented to on 21 August 2025 and in force from 1 April 2026, it replaces the Income-tax Act, 1961 for tax year 2026-27 onward, and the Income-tax Rules, 2026 (notified 20 March 2026) replace the 1962 Rules. Section and rule numbers on this page are those of the 1961 Act and 1962 Rules, which continue to govern assessments, appeals and pending proceedings for assessment years up to 2026-27; for tax year 2026-27 onward the corresponding provisions of the 2025 Act apply, and our engagement letters quote both.

Engagement terms — reviewed 25 October 2026

  • Fee: Tax audit under section 44AB from ₹35,000 + 18% GST. Statutory audit, internal audit and GST audit are quoted against scope and size.
  • Extra / not included: Preparation of the financial statements and bookkeeping are separate from the audit.
  • Turnaround: Agreed per scope in the engagement letter, counted in working days from receipt of complete information and the advance payment; statutory due dates are met when books are closed at least 20 working days before them.
  • Who signs: The audit report is signed by V. Viswanathan FCA or another qualified Chartered Accountant of the practice, depending on the engagement.
  • Entity: Engagement letter and invoice are issued by V Viswanathan & Associates, Chartered Accountants (FRN 013713S), the proprietary firm of V. Viswanathan.
  • What to send first: Send trial balance and ledgers, previous year's audit report, fixed-asset register, and the list of related parties.
  • Next step: Send your enquiry on WhatsApp to +91 99622 60333; we confirm the scope, fee and timeline in writing before work starts.

Frequently Asked Questions

What is a compliance audit?
An independent review of whether an organisation is following the laws, regulations, licences and internal policies that apply to it, such as the Companies Act, GST, income-tax, labour and FEMA rules. It reports gaps, their penalty exposure and the corrective action needed.
How is compliance audit different from statutory audit?
A statutory audit under the Companies Act gives an opinion on whether the financial statements show a true and fair view. A compliance audit tests adherence to laws and policies; it is voluntary (except where a regulator prescribes it) and its scope is set by management.
Which regulations are covered?
Virtual Auditor provides expert advisory on this through our FCA + ACS + CFE + IBBI Registered Valuer practice. Contact us at +91 99622 60333 or visit virtualauditor.in for detailed guidance specific to your situation.
How often should a compliance audit be done?
Annually for most companies, with a quarterly check of high-risk areas such as GST and TDS. Companies raising funds, preparing for due diligence or operating in regulated sectors (NBFC, FSSAI, pharma) benefit from a half-yearly cycle.
What is a compliance scorecard?
A one-page summary that rates each compliance area (for example ROC filings, GST, TDS, payroll law, FEMA) as compliant, partly compliant or non-compliant, with the pending items, due dates and the person responsible, so management can track closure.
Which audit or review applies, and what will the work actually cover?
Every company needs a statutory audit of its financial statements by a chartered accountant appointed under section 139 of the Companies Act, reporting under section 143 and, where it applies, the CARO 2020 order and on internal financial controls. An LLP needs an audit when its turnover exceeds ₹40 lakh or its contribution exceeds ₹25 lakh. A tax audit is needed when business turnover or professional receipts cross the income-tax limits. An internal audit is required for prescribed classes of companies (section 138). A statutory auditor cannot also provide certain other services to the same company (section 144). We confirm which audits apply, agree the scope and timetable in an engagement letter, and list the records needed.

Related Services

Bank Audit Services IndiaConcurrent Audit Services IndiaECB Compliance Chartered AccountantFEMA Compliance ServicesInternal Audit Services IndiaLRS Compliance Chartered AccountantODI Compliance for Indian CompaniesROC Compliance Consultant India

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What has changed in the law — reviewed October 2026

  • Income-tax Act, 2025: assented to on 21 August 2025 and in force from 1 April 2026, it replaces the Income-tax Act, 1961 for tax year 2026-27 onward, and the Income-tax Rules, 2026 (notified 20 March 2026) replace the 1962 Rules. Section and rule numbers on this page are those of the 1961 Act and 1962 Rules, which continue to govern assessments, appeals and pending proceedings for assessment years up to 2026-27; for tax year 2026-27 onward the corresponding provisions of the 2025 Act apply, and our engagement letters quote both.

Which laws govern this service? — Audit

The statutory provisions this service is delivered under, linked to the official text:

Compliance Audit Services — Practical Overview

A compliance audit is a structured review of an organisation's adherence to applicable statutory, regulatory, and internal-policy requirements. It differs from a financial audit (which addresses true-and-fair view of financial statements) and from operational audit (which addresses efficiency and effectiveness of operations).

Regulatory and Statutory Framework

Compliance audits are commissioned in three primary contexts: (a) internal audit programmes under Section 138 of the Companies Act; (b) regulator-driven reviews (RBI inspections of NBFCs, SEBI inspections of listed entities, GST audits); and (c) M&A and pre-IPO readiness reviews. The audit standards drawn from Standards on Auditing (SA), Standards on Internal Audit (SIA), and the relevant regulatory Master Directions guide the engagement methodology.

Process and Documentation Requirements

The end-to-end process typically involves: (a) initial fact-finding and document collection — incorporation documents, financial statements, board resolutions, and any prior filings on the matter; (b) regulatory analysis — identification of applicable provisions, exemptions, and procedural prerequisites; (c) drafting of the substantive deliverable — whether a report, application, certificate, or representation; (d) obtaining necessary internal approvals from the company's board or shareholders; (e) submission to the regulatory authority with supporting evidence; (f) follow-up on queries and rectifications; (g) post-completion compliance maintenance and record-keeping. Our compliance audit deliverable typically includes a risk-rated finding register (Critical, High, Medium, Low) with statutory-provision references, root-cause analysis, recommended remediation, and an executive summary suitable for board presentation.

Common Pitfalls and How We Avoid Them

From our litigation and assessment experience, the most frequent issues that escalate into adverse outcomes are: (a) inadequate documentation supporting the technical position taken; (b) inconsistency between disclosures across different statutory filings (income tax, ROC, GST); (c) failure to obtain timely contemporaneous evidence (board minutes, valuer reports, contracts); (d) reliance on form over substance — the Indian regulatory regime increasingly looks through form to economic substance; (e) missed limitation periods for filings, replies, or appeals. Our engagement methodology builds in checks against each of these failure modes from kick-off.

Why CA V. Viswanathan and Virtual Auditor

The combination of FCA, ACS, CFE, and IBBI Registered Valuer credentials under one practice — IBBI/RV/03/2019/12333 — is rare, and is precisely the breadth needed for engagements that span direct tax, indirect tax, corporate law, FEMA, and valuation simultaneously. Our practice has been operating since 2012 with offices in Chennai, Bangalore, and Mumbai, and serves clients across India through secure document-room workflows, named partner ownership, and weekly status updates. Engagements are scoped on fixed-fee terms wherever the work permits, with full transparency on inclusions and exclusions.

Engagement Process and Next Step

Free 30-minute consultation with CA V. Viswanathan to scope your specific requirement, identify the right approach, and provide a written fixed-fee quote within 24 hours. Engagements typically commence within 3-5 working days of acceptance, with kickoff document checklist shared upon engagement letter signing. References from comparable engagements available on request, subject to confidentiality. Call +91 99622 60333 or email support@virtualauditor.in to schedule.

Strategic Business & Compliance Insights

Frequently Asked Questions

What is a compliance audit?
An independent review of whether an organisation is following the laws, regulations, licences and internal policies that apply to it, such as the Companies Act, GST, income-tax, labour and FEMA rules. It reports gaps, their penalty exposure and the corrective action needed.
How is compliance audit different from statutory audit?
A statutory audit under the Companies Act gives an opinion on whether the financial statements show a true and fair view. A compliance audit tests adherence to laws and policies; it is voluntary (except where a regulator prescribes it) and its scope is set by management.
Which regulations are covered?
Virtual Auditor provides expert advisory on this through our FCA + ACS + CFE + IBBI Registered Valuer practice. Contact us at +91 99622 60333 or visit virtualauditor.in for detailed guidance specific to your situation.
How often should a compliance audit be done?
Annually for most companies, with a quarterly check of high-risk areas such as GST and TDS. Companies raising funds, preparing for due diligence or operating in regulated sectors (NBFC, FSSAI, pharma) benefit from a half-yearly cycle.
What is a compliance scorecard?
A one-page summary that rates each compliance area (for example ROC filings, GST, TDS, payroll law, FEMA) as compliant, partly compliant or non-compliant, with the pending items, due dates and the person responsible, so management can track closure.
Which audit or review applies, and what will the work actually cover?
Every company needs a statutory audit of its financial statements by a chartered accountant appointed under section 139 of the Companies Act, reporting under section 143 and, where it applies, the CARO 2020 order and on internal financial controls. An LLP needs an audit when its turnover exceeds ₹40 lakh or its contribution exceeds ₹25 lakh. A tax audit is needed when business turnover or professional receipts cross the income-tax limits. An internal audit is required for prescribed classes of companies (section 138). A statutory auditor cannot also provide certain other services to the same company (section 144). We confirm which audits apply, agree the scope and timetable in an engagement letter, and list the records needed.