CORAA

Related Party Transaction Fairness / Arm's-Length Opinion Certificate (CA Issued, Word)

A CA-issued opinion on whether a specific related party transaction's pricing is at arm's length — a substantive fairness opinion, distinct from a disclosure-compliance confirmation.

Free · CORAA original — SA-aligned
Updated 28 Jul 2026
Type
Substantive pricing opinion (not a disclosure-compliance certificate)
Tests
Whether transaction terms are arm's length, not just disclosed
Distinct from
Sec 92 transfer-pricing study (international/specified domestic transactions)
UDIN
Required on every CA certificate
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Your firm — letterhead
Appears at the top of the document as the audit firm letterhead.
Used as the letterhead block.
Engagement details
The client and period this document is for.
What’s inside

An excerpt from the template.

RELATED PARTY TRANSACTION FAIRNESS / ARM'S-LENGTH OPINION

This is to certify our opinion on the arm's-length nature of the following transaction between ___ (PAN: ___) and its related party, ___, for the period ended ___, based on the transaction documents, comparable pricing data and books of account produced before us and the information and explanations given to us.

Nature and value of the transaction: ___.

Comparable(s) used for the arm's-length test: ___.

↑ Excerpt only — the full template is what you download as Word
About this template

What you’re downloading, and when to use it.

This template follows the format published by the Institute of Chartered Accountants of India (ICAI) in the AASB Audit Working Paper Templates (June 2023), the authoritative reference for Indian statutory-audit documentation. Fill in your firm’s letterhead and the engagement details on the form above, click Download Word file, and you’ll get a fully formatted .docx ready to use.

Everything is generated in your browser and on a stateless API endpoint — no account, nothing stored on our servers. We’ll ask for a work email once before your first download so we can send you the file and the occasional relevant update; after that, downloads on this device are instant. Edit freely in Word, Google Docs or Pages before sending to your client.

Common questions

FAQs.

How is this different from confirming Section 188 / AS 18 compliance?
Section 188 and AS 18/Ind AS 24 are about disclosure and approval — was the transaction identified as a related-party transaction, disclosed, and approved by the right authority. This certificate is a substantive opinion on the PRICE itself — whether the terms match what an unrelated party would have agreed to. A transaction can be fully disclosed and approved yet still not be arm's length, and vice versa in rare cases.
What if no good comparable transactions exist?
State that limitation explicitly in the certificate rather than forcing a conclusion — if internal comparables (the same goods/services sold to unrelated parties) aren't available, the opinion may need to rely on external market data, industry benchmarks, or a formal valuation, and the certificate should be transparent about which basis was actually used and its limitations.
Does this replace a transfer-pricing study for cross-border transactions?
No — if the related party is a foreign associated enterprise, or the transaction is a "specified domestic transaction" under Section 92BA, a formal transfer-pricing study and Form 3CEB certification is a separate, more rigorous statutory requirement with its own arm's-length methodologies (CUP, RPM, CPM, TNMM, PSM) — this certificate is for a general related-party fairness opinion, not a substitute for that study.
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