Introduction
A One Person Company (OPC), though operated by a single individual, is recognized as a separate legal entity under the Companies Act, 2013. This status brings with it various statutory obligations, one of the most important being the requirement of financial auditing. A Chartered Accountant (CA) plays a central role in fulfilling this responsibility by conducting statutory audits, verifying financial records, ensuring legal compliance, and guiding financial reporting. The involvement of a CA helps the OPC maintain transparency, accuracy, and accountability in its financial affairs.

Appointment of a Chartered Accountant
The appointment of a Chartered Accountant as the statutory auditor is mandatory for every OPC under Section 139 of the Companies Act, 2013. The first auditor must be appointed by the Board of Directors within thirty days of incorporation. For subsequent years, the auditor is appointed for a five-year term, subject to ratification if required. The appointment must be formally documented and filed with the Registrar of Companies through Form ADT-1. The CA must be registered and hold a valid certificate of practice.

Conducting a Statutory Audit
The CA conducts the statutory audit by examining the financial statements of the OPC, including the balance sheet, profit and loss account, and cash flow statement. The purpose is to ensure that these statements present a true and fair view of the financial position of the company. The audit process includes verification of transactions, checking internal controls, and evaluating compliance with accounting standards and applicable laws. The CA prepares an audit report that is annexed to the company’s financial statements.

Verification of Books and Records
One of the key responsibilities of a CA in auditing an OPC is to examine the books of accounts and statutory records maintained by the company. This includes checking ledgers, vouchers, invoices, bank statements, and registers such as the register of members and contracts. The CA ensures that the company maintains proper documentation and follows the prescribed accounting principles. Any discrepancies, errors, or non-compliances are identified and reported.

Compliance with Legal Requirements
The CA ensures that the OPC complies with the statutory provisions of the Companies Act, 2013, and the Income Tax Act, 1961. This includes verifying whether the company has filed necessary forms such as AOC-4 and MGT-7A, paid applicable taxes, maintained proper books, and adhered to disclosure norms. The CA also helps in identifying areas where legal compliance may be lacking and advises corrective actions, thus safeguarding the company from penalties and legal risks.

Preparation of Audit Report
After completing the audit, the CA prepares an audit report as required under Section 143 of the Companies Act. This report includes the auditor’s opinion on the financial statements and comments on internal financial controls. The report also includes observations on any adverse findings or non-compliance issues. The audit report must be attached to the financial statements submitted to the Registrar of Companies and forms a key part of the annual financial filing of the OPC.

Advisory and Financial Guidance
Beyond auditing, the CA provides financial advisory services to the OPC. This includes guidance on tax planning, investment decisions, compliance updates, financial structuring, and risk management. The CA helps the entrepreneur understand financial statements, interpret performance metrics, and make informed business decisions. This advisory role adds value to the overall financial health and strategic direction of the company.

Support in Tax Audit and ROC Filings
If the OPC’s turnover exceeds the specified threshold under the Income Tax Act, the CA also conducts a tax audit and files reports in Form 3CA/3CB and 3CD. Additionally, the CA assists in the preparation and submission of annual ROC filings, including AOC-4 and MGT-7A, and helps ensure timely submission to avoid penalties. Their expertise ensures accurate compliance with both tax and corporate regulations.

Conclusion
The Chartered Accountant plays a pivotal role in auditing a one-person company, ensuring that the financial records are accurate, the legal obligations are met, and the company operates within the framework of the law. From appointment and audit execution to compliance verification and financial advisory, the CA supports the OPC in maintaining credibility, transparency, and financial discipline. For solopreneurs running OPCs, engaging a qualified CA is not just a legal formality but a strategic necessity for responsible and sustainable business management.

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