About ROC Compliance

ROC compliance refers to the legal obligations that companies in India must fulfill under the Companies Act, 2013. The ROC operates under the Ministry of Corporate Affairs (MCA) and oversees company incorporation, monitoring, and compliance. Chartered Accountants (CAs) play a critical role in helping businesses meet these compliance requirements, ensuring that companies file mandatory documents, reports, and financial statements on time to avoid penalties and legal issues.

• Filing of Audited Financial Statements:

  CAs perform statutory audits to verify the accuracy of financial records. After the audit is completed, the audited financial statements must be submitted to the ROC.

  Form AOC-4 is filed for submitting financial statements, while Form MGT-7 is used to file the company’s annual return.

  CAs also file Form AOC-4 XBRL for companies that are required to submit their financials in XBRL (eXtensible Business Reporting Language) format.

• Director-Related Filings:

  DIR-3 KYC: CAs assist directors in filing the DIR-3 KYC form, which is mandatory for updating their personal details with the MCA to ensure the validity of their Director Identification Number (DIN).

  DIR-12: CAs help with filing DIR-12 for changes in the company’s directors, such as appointments, resignations, or changes in personal information.

• Statutory Audits and Compliance Audits:

  CAs conduct statutory audits of the company’s financial records, ensuring that the accounts are prepared in line with the provisions of the Companies Act.

  CAs also conduct compliance audits to check if the company is adhering to its legal responsibilities related to ROC filings, meeting statutory deadlines, and fulfilling governance norms.

• Auditor Appointments and ROC Filings:

  CAs assist in the appointment of statutory auditors and ensure that the necessary forms, such as ADT-1, are filed with the ROC.

  They help with the filing of ADT-3 in case of resignation or removal of the auditor and ensure all required notices are sent to the ROC in a timely manner.

• Penalties and Compounding of Offences:

  In case of non-compliance or late filings, companies may face penalties or legal consequences. CAs assist in handling such issues by filing applications for compounding offences, submitting late fee payments, or filing rectifications with the ROC.

  CAs help in negotiating with regulatory authorities to minimize the impact of penalties on the business.

• Secretarial Compliance:

  CAs ensure that companies comply with the provisions of corporate governance, including holding board meetings, annual general meetings (AGMs), and maintaining minutes of meetings.

  They assist in the preparation and filing of notices of AGMs and help in drafting the board resolutions required for submission to the ROC.

CAs ensure that companies comply with ROC requirements, filing all necessary forms, financial statements, and reports on time. Their expertise in accounting and corporate laws helps businesses avoid penalties and maintain good standing with regulatory authorities. Through continuous monitoring and guidance, CAs help companies navigate the complexities of ROC compliance, ensuring smooth and lawful business operations.