Internal Audit
Independent internal audit to strengthen controls, processes and risk management.
Internal audit goes beyond statutory compliance to examine whether your internal controls, processes and risk management practices are actually working. Our internal audit engagements are scoped to your industry and risk areas, delivering practical findings your management team can act on.
Why this matters for your business
- Early detection of process gaps and control weaknesses
- Reduced risk of fraud and financial leakage
- Actionable recommendations, not just a compliance checklist
- Improved investor and lender confidence
What you'll need to share
- Organisation chart and process documentation
- Financial statements and ledgers
- Existing internal control policies, if any
- Purchase, sales and inventory records
- Previous internal audit reports, if available
How It Works
How an internal audit moves from initial planning through to lasting process improvement.
Audit Planning & Scope
Define objectives, identify risks, allocate resources, and set the audit scope.
Fieldwork & Testing
Execute audit tests, gather evidence, interview staff, and document findings.
Reporting & Communication
Draft the audit report, discuss preliminary findings with management, and finalize recommendations.
Management Response & Action Plans
Management reviews the report, agrees on action plans, and sets target dates for implementation.
Follow-Up & Monitoring
Internal audit verifies the implementation of agreed-upon corrective actions and monitors progress.
Review & Improvement
Evaluate the effectiveness of the audit process itself and identify opportunities for improvement.
Internal Audit questions, answered
It's mandatory for certain classes of companies under the Companies Act based on turnover, borrowings or paid-up capital thresholds; it's good practice for all growing businesses regardless.
Most businesses benefit from quarterly or half-yearly internal audits, with high-risk areas reviewed more frequently.
No, internal audit is a management tool for control and risk, while statutory audit is an independent opinion on financial statements for regulators and shareholders.
Yes, outsourcing to an independent firm like ours brings objectivity and specialist expertise without adding to your headcount.
Ready to get started with Internal Audit?
Share a few details and our team will reach out with next steps within one business day.