Internal Audit

Internal Audit

We assist clients in enhancing risk management; improving performance and operating efficiency while providing the foundation to achieve better business performance.
We work to build internal audit into a strategic and productive tool in today's corporate governance environment and simultaneously strive to advise our clients regarding strategic and operational risks.
We serve clients in diverse industries such as Manufacturing, Trading, Information Technology, Healthcare, Insurance, Media & Entertainment, Credit Rating Agencies, Aviation, Textiles, Automotive, Healthcare, Non-Banking Financial Institutions, FMCG, ITES, Infrastructure, Non-Profit Organizations, Engineering, Pharma, Power Generation Service etc.

Scope of Internal Audit

• 1. Evaluation of Internal Controls

  • Review and assessment of the adequacy, design, and effectiveness of internal control systems.

  • Identification of control gaps, process weaknesses, and risk exposures.

  • Recommendations for strengthening controls and mitigating risks.

  2. Financial and Accounting Review

  • Verification of accuracy, completeness, and reliability of financial records.

  • Examination of revenue, expenses, asset management, liabilities, and financial reporting processes.

  • Compliance check with applicable accounting standards and statutory requirements.

  3. Compliance and Regulatory Assurance

  • Ensuring adherence to relevant laws, regulations, and industry-specific guidelines.

  • Reviewing policies and procedures to ensure alignment with statutory requirements.

  • Assessment of GST, Income Tax, labour laws, and other regulatory compliances.

  4. Operational Audit

  • Evaluation of the efficiency and effectiveness of business processes.

  • Review of procurement, inventory, payroll, production, logistics, and administrative functions.

  • Identification of bottlenecks and process improvement opportunities.

  5. Risk Management Assessment

  • Understanding and analysing the organization’s risk profile.

  • Assessing the adequacy of existing risk management frameworks.

  • Recommending measures to enhance risk mitigation and monitoring.

  6. Fraud Risk & Forensic Review

  • Identification of potential fraud indicators and red flags.

  • Examination of unusual transactions, misuse of funds, or policy violations.

  • Designing and advising on anti-fraud controls.

  7. IT & Systems Audit

  • Review of IT general controls, data security, and access management.

  • Evaluation of ERP usage, automation gaps, and cybersecurity controls.

  • Assessment of data reliability and system-driven processes.

  8. Reporting & Recommendations

  • Detailed audit reports with observations, risk ratings, and actionable recommendations.

  • Management discussion and final presentation of findings.

  • Follow-up reviews to track implementation of corrective actions.

Our Internal Audit practice is designed to provide organizations with independent, objective, and systematic assurance aimed at strengthening internal controls, improving operational efficiency, and ensuring regulatory compliance. The scope of our internal audit services includes, but is not limited to, the following: