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Questions › Category: Co. Audit - I › Foreign Company
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Himanshu Bhutani BhutaniHimanshu Bhutani asked 4 years ago

Applicability of Audit. What about foreign company. It is a body corporate. Does company law mandate audit for them also?. If so, under what provision

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RaviRavi Staff answered 4 years ago

There are separate sections and rules for foreign companies. 
Rule 5 of the Companies (Registration of Foreign Companies) Rules, 2014 provides that every foreign company shall get its accounts, pertaining to the Indian business operations prepared in accordance with the requirements of section 381 and rule 4, audited by a practicing Chartered Accountant in India or a firm or limited liability partnership of practicing chartered accountants.