International Audit and Assurance: Navigating the Global Compliance Minefield
Expanding your business across international borders is a significant milestone, but it introduces a complex web of diverse legal frameworks, local accounting standards, and shifting tax regulations. To maintain transparency and accuracy, specialized international audit and assurance services are essential. These services act as a bridge, ensuring your local subsidiaries remain compliant while providing headquarters with a clear, unified financial narrative.
Statutory Compliance and Group Reporting in India
In India, foreign subsidiaries must undergo a mandatory independent audit under the Companies Act, 2013. However, the local auditor’s role extends beyond national boundaries. They must also prepare “reporting packages” that translate local figures into global standards like IFRS or US GAAP. This dual-purpose reporting ensures that your Indian operations integrate seamlessly into your global consolidated financial statements.
Streamlining Foreign Remittances and Special Audits
Moving capital out of India—whether as dividends, royalties, or service fees—requires navigating stringent withholding tax (WHT) laws. To facilitate these transfers, a Chartered Accountant must issue Form 15CB, certifying that the transaction adheres to Indian tax laws and Double Taxation Avoidance Agreements (DTAA). Furthermore, companies often require “Special Purpose Audits” for targeted investigations, such as due diligence or royalty verifications, providing the surgical precision needed for informed decision-making.
Ultimately, professional assurance services transform global compliance from a burden into a strategic advantage, allowing you to focus on scaling your business with confidence.