https://www.taxtmi.com/forum/issue?id=120645 RBI does not mandate a rigid audit report format for APRs of overseas subsidiaries but requires audited or duly certified financial statements and a professionally issued auditor's certificate reconciling exactly with APR figures; accepted contents include an Independent Auditor's Report/Auditor's Certificate, balance sheet, profit and loss, cash flow statement, notes to accounts and certification details, with confirmations on capital, reserves, net worth, turnover, profit/loss, dividends and FEMA compliance. Foreign statutory audits are acceptable where conducted; where audit is not mandatory, Indian auditor certification or CA certified management accounts are accepted in practice, subject to RBI clarification. en-us Mon, 15 Dec 2025 12:48:20 +0530 Thu, 18 Dec 2025 21:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120645 RBI does not mandate a rigid audit report format for APRs of overseas subsidiaries but requires audited or duly certified financial statements and a professionally issued auditor's certificate reconciling exactly with APR figures; accepted contents include an Independent Auditor's Report/Auditor's Certificate, balance sheet, profit and loss, cash flow statement, notes to accounts and certification details, with confirmations on capital, reserves, net worth, turnover, profit/loss, dividends and FEMA compliance. Foreign statutory audits are acceptable where conducted; where audit is not mandatory, Indian auditor certification or CA certified management accounts are accepted in practice, subject to RBI clarification. Discussion-Forum FEMA Mon, 15 Dec 2025 12:48:20 +0530 https://www.taxtmi.com/forum/issue?id=120645