As per the standards on Internal Audit by ICAI, Internal Audit is an independent management function, which involves a continuous and critical appraisal of the functioning of an entity with a view to suggest improvements thereto, add value to and strengthen the overall governance mechanism of the entity, including the entity's strategic risk management and internal control system.
In simple terms - It was, and is, a way of ensuring businesses and public sector organizations use resources efficiently and apply process consistently. Internal auditors assist management with this task by providing a focus on risk management and the implementation of more stringent internal controls to manage prospective risks and vulnerabilities.
As of today, internal audit undeniably is the backbone of a sound corporate governance system.
As Chartered Accountants, we understand the challenges faced by the client in risk management and help them in achieving their objectives. We offer internal audit services that are tailored to meet their specific needs and requirements.