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FEMA Audit

This has been found to be very useful for medium and large corporates, including multi-nationals, which have day-to-day cross-border transactions on a massive scale.

Such corporates request a periodical FEMA Audit of their cross-border transactions for a predetermined period, such as the last 5 financial years. Each such audit focusses on a specific segment of cross-border transactions, eg. Exports, Imports, ECB,FDI etc. Such an exercise helps the company to identify FEMA contraventions and address them promptly, without allowing them to fester unnoticed and unattended for several years, entailing heavy compounding charges or heavier penalties or other punitive action by RBI and/or ED.

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