Every One Person Company is mandatorily required to get audited books of accounts to give the true and fair view of the company and also under an obligation to appoint a chartered accountant as an auditor for auditing the books of accounts. No certain limit is specified in law for statutory audit of the company. But tax audit is mandatorily required only when turnover of the company exceeds the limit of Rs.1 crore.
Audit
Requirement
Statutory Audit
Mandatory irrespective of the turnover
Tax Audit
When turnover exceeds Rs.1 crore
More on: One Person Company Regsitration Procedure in India
Auditor can only provide those services which are allowed by the audit committee or board of directors. Certain services which are not allowed to render by the auditor are: