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Tax & Compliance·7 min read
Statutory Audit for Private Limited Companies: Timeline & Prep
Coordinate your first audit without panic—documents, auditor appointment, and AOC-4 filing in one rhythm.
May 15, 2025
What you'll take away
- Pvt Ltd audit is mandatory regardless of revenue.
- ADT-1 appoints auditor within 30 days of incorporation.
- Audit signs financials before AGM and AOC-4 filing.
- Pelago coordinates auditors and closes book queries.
Auditor appointment rules
First auditor at board within 30 days of incorporation; subsequent at AGM.
File ADT-1 within 15 days of appointment.
Rotate auditor every 5/10 years per company size rules.
What auditors request
- Bank statements and reconciliations.
- GST returns and annual reconciliation.
- TDS challans and Form 26AS.
- Related-party contracts and founder loan statements.
- Fixed asset registers and vendor contracts.
Timeline to AGM
Close books → draft financials → audit fieldwork → signed report → board approval → AGM → AOC-4 within 30 days.
Founder tip: Respond to PBC lists within 48 hours—audit delays push ROC penalties.
Pelago's role
We prepare schedules, liaise with auditors, and file AOC-4/MGT-7 so founders aren't learning MCA forms under deadline pressure.