Internal audit is mandatory for companies past prescribed size thresholds — and quietly valuable long before the law compels it.
When it becomes mandatory
Listed companies always; unlisted and private companies upon crossing the notified turnover, borrowing, deposit or capital thresholds. The internal auditor may be a professional or firm the board appoints — independence from day-to-day operations is the point.
What internal audit actually examines
- Whether controls exist and operate: approvals, segregation of duties, reconciliations
- Leakage points: procurement, inventory, receivables, expense claims
- Compliance operation: are the GST, TDS and ROC calendars actually followed?
- Process efficiency — the findings that pay for the exercise
The case for voluntary adoption
Growing businesses discover fraud and leakage on average years after it begins. A light annual internal review catches the drift early — and banks, investors and statutory auditors all read its existence as maturity.
Right-sizing it
A focused scope on your two or three riskiest processes beats a ceremonial full-scope report nobody reads.
We run right-sized internal audits — audit services · scope one.
