Internal Audit Service
An internal audit provides risk management for the efficacy of internal controls, corporate governance & accounting processes.
Plan starts from
➦ Ensures Regulatory Compliance
➦ Process Improvement
➦ Risk Management
➦ Internal Control
➦ Safeguarding of Assets
➦ Effectiveness and Efficiency
Internal Audit Service
Internal Audit Services by TaxRodo experts with our plans starting from ₹13,990/- Only
Internal auditing is an impartial, independent assurance and advisory process that adds value and improves the operations of a company. It assists the company in achieving it’s goals by implementing a structured, disciplined approach to assessing and improving the efficacy of risk management, control, and governance processes. Internal auditors collaborate with management to assess processes and procedures in a structured manner. These audits (reviews) are conducted to determine how well risks are handled, including whether the appropriate protocols are in place and whether agreed-upon procedures are followed.
Audits may also reveal places where cost savings or new ideas may be implemented. Internal audits are part of an ongoing programme of analysis and consulting activity that is focused on an organization’s strategic needs. Internal auditors operate in every department of a company. They examine the tangible aspects of operations, such as an organization’s supply chain or IT systems, as well as more intangible aspects, such as corporate culture and ethics, in addition to the key areas of financial management and IT. In reality, any system that has an impact on an organization’s ability to operate effectively can be included in the scope of internal audit.
Note Down The Documents Required For Internal Audit
- It will be shared with you at the time of discussion & after getting detailed understanding about the nature of Business.
What We Do?
✓ Regular Business Monitoring
✓ Updates on Tax & Regulatory Matters
✓ Ensure compliance with Laws & Regulations
✓ Expert Guidance
Standard Plan 1
Internal Audit for Business having Turnover up to ₹1 Crore during the year.
Standard Plan 2
Internal Audit for Business having Turnover of ₹1 – 5 Crore during the year.
Standard Plan 3
Internal Audit for Business having Turnover of ₹5 – 10 Crore during the year.
Standard Plan 4
Internal Audit for Business having Turnover of ₹10 – 20 Crore during the year.
Features of Internal Audit
Ensures Internal Controls
Internal Audit ensures Internal Controls are properly implemented in the Organization.
Internal Audit helps to evaluate the accounting system.
Internal Audit helps to deduct the frauds in accounting (if any).
FAQs of Internal Audit
Internal Auditor is the qualified professional having expertise in the filed of Taxation, Accounting & Finance.
In Internal Audit an Auditor is appointed by the management, who acts as the Internal Auditor. That appointed person ensures that the accounting process or the Taxation rules followed by the entity are correctly implemented. That appointed person reports to the management of the company.
Yes, External Auditor is required even if the Internal Auditor is appointed by the entity. Since the External Auditor issues independent report & gives opinion on the financial statements. But the Internal Auditor helps the entity to smoothly comply with the rules & regulations.
Internal Auditor are integral to the organization and provide ongoing monitoring and assessment of all the activities. On the contrary, external auditors are independent of the organization and provide an opinion on the financial statements.