OPC Statutory Audit and Accounts Guide
Build reliable OPC books, financial statements and statutory audit evidence.
Build reliable OPC books, financial statements and statutory audit evidence. Use the sections below to understand the practical decisions, records and compliance points before taking action.
Maintain company books separately
The OPC is legally separate from its member, so personal and company transactions should not be mixed.
Reconcile every bank and balance
Match bank, receivables, payables, loans, capital, taxes and related-party balances to evidence.
Prepare year-end schedules
Support fixed assets, depreciation, provisions, inventory and statutory dues with schedules.
Document related-party matters
Identify member or director transactions and preserve approvals, contracts and disclosures.
Coordinate statutory audit
Provide complete records, resolve audit queries and preserve the signed report and representation trail.
Tie statements to ROC and tax data
Financial statements, annual filing, ITR, GST and TDS data should use explainable consistent figures.
Official References
Rules and portal requirements can change. Review the current official material relevant to the proposed company.
This article provides general information and is not a substitute for legal, tax or investment advice. Applicability should be reviewed for the proposed entity and current law.