Internal audit and assurance service give assurance that the operations of an enterprise are being carried out as per the laid down systems and policies of the management and that statutory requirements of the state are being complied with.
It also evaluates and assures that all the established internal controls are in place and are continually effective.
Further it also advises the management about the deviations in the systems and suggests improvements required for effective control of the operations of the organizations.
Statutory Laws mandates certain types of enterprises to have Internal Audits.
Internal audits evaluate a company’s internal controls, including its internal financial controls (IFC), corporate governance and accounting processes. We assure compliance with laws and regulations and reliable and timely financial reporting and data collection, as well as helping to maintain operational effectiveness by recognizing problems and fixing errors. We document methods, risks and provide guidance for growth. We also assist in setting up internal control processes and stay committed through the implementation.