Accounts of company

As per the provisions of Sec 2(41) of Companies Act, 2013-   “financial year”, in relation to any company or body corporate, means the period ending on the 31st day of March every year, and where it has been incorporated on or after the 1st day of January of a year, the period ending on the 31st day of March of the following year, in respect whereof financial statement of the company or body corporate is made up.

Thus in the above case, since the company was incorporated before 1st January, the company is required to get its accounts audited for Financial year 2016-17. Opening of Bank Accounts and receipt of share subscripttion money is not a relevant criterion for determing the applicability of audit