Internal audit services provide independent and objective assurance to help organizations accomplish their objectives. They help evaluate and improve risk management, internal control, and governance processes. Internal auditing assesses the effectiveness and efficiency of operations, reliability of financial reporting, and compliance with applicable laws and regulations. The goal is to provide reasonable assurance to management on whether the organization's network of risk management, control, and governance processes is designed and operating effectively.

1. Internal Audit Services

2. Risk implies future uncertainty about
deviation from expected earnings/
outcome eg. loss of assets etc.
Independent, objective assurance,
consulting activity designed to add value,
improve an organization's operations &
helps in accomplish its objectives.
A process effected by an organization’s
people, designed to provide reasonable
assurance on effectiveness and efficiency
of operations, reliability of financial
reporting, compliance with laws, eg.
periodic physical verification of assets etc.
Background
INTERNAL
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RISK
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3. Requirement
Paid up Share
Capital
Turnover
Outstanding
Deposits
Public Unlisted
Companies
Rs. 200 Crores or
more during the
preceding Financial
Year
Rs. 200 Crores or more
during the preceding
Financial Year
Exceeding Rs. 100 Crores
or more at any point of time
during the preceding
financial year
Rs. 25 Crores or more
at any pointof time
during the preceding
financial year
Private
Companies
Not
applicable
Rs. 50 Crores or more
during the preceding
financial year
Exceeding Rs. 100
Crores or more at any
point of time during the
preceding financial year
Not
Applicable
Outstanding Loan &
Borrowings from
Banks or Public
Financial Institutions
Applicability
3
Note: Internal Audit is mandatory applicable on Listed Companies without any Terms & Conditions.

4. Logistics &
Distributions
Inventory &
Warehouse
Management
Order
to Cash
Procure
to Pay
Human
Resources
& Payroll
Finance &
Accounts
Capital
Expenditure
Information
Technology
Areas of Review
Production
Maintenance
Administrative
Expenses
Legal,
Sectorial &
Compliances
4

5. Methodology
Review of the process on the
basis of walkthrough – System,
physical and documentation
Detailed root cause analysis and
suggesting recommendation for
improvement of control environment
Analytics of the reports being extracted
at various stages of the process and
identification of exceptions
Review of documentation for exceptions
identified at the previous stages and
other critical transactions
Discussion and reporting
to the management
Process
Review
Transaction
Analysis
Detailed
Review of
Transactions
Route
Cause
Analysis
Reporting
5

6. Deliverables
1
Detailed
Observation
Logs
Root
Cause
Analysis
Executive
Summary
Recommendations
(Process &
Transactional)
2 3 4
6

7. Benefits
Through Internal Audit procedures, the organization
shall be able to identify the below mentioned aspects
for suitable actions/counter measures.
Control Weakness
Cost Control Opportunities
Procedural & Regulatory
Non-compliance
Deviation from Best Practices
Operational Inefficiencies
7

8. Connect with us
COO – Risk, Assurance, Transaction Advisory Services
& Business Development - Non-Foreign Enterprise
+91-98108-08653
a1.sharma@mayurbatra.com
Abhijeet Sharma
Senior Manager – Business Development
+91-99998-77683
p.jaidev@mbgcorp.com
Pulkit Jaidev
Website: www.mbgcorp.com/in
Email: communications@mbgcorp.com
Phone: +91-8860190008
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