Internal Audit

Audits conducted or organized by the management of a business organization for ensuring and assessing the efficiency and effectiveness of the business operations is called an internal audit. It is one of the main and important functions of the business management.

Internal Audit is done for ascertaining the financial health of the organization. It is regulated and governed by the Companies Act, 2013 that prescribes and provides certain regulations and guidelines for conducting the Internal Audit Function in an organization in India.

As per the standard laid down by The Institute of Chartered Accountants of India (ICAI), Internal Audit is defined as a Risk Management Function independently carried out to provide assistance to the Management of an organization. Internal Audit helps in identifying gaps and loopholes in the execution of policies, strategies and procedures of the organization in various day-to-day functions like Finance, Risk, HR, Inventory, Statutory compliances, etc.

We BizFinTax.com is a reputed Consulting Agency in India and as trusted Internal Audit Consultants, we help our clients with a number of services related to internal audit functions.

When Is Internal Audit Required?

• Expansion in growth and size of business/company and complexity of business
• Adherence to Statutory compliances
• Use of Information technology on a wide range
• Internal management and control for risk management
• Establish secured corporate governance and exercise best industry practices