Risk Mitigation
Proactively identifies potential operational, financial, and compliance risks before they can negatively impact your business continuity.
Audit & Accounts
Internal Audit
Enhance operational efficiency, mitigate risks, and strengthen your corporate governance with our comprehensive internal audit services.
Response within a few hours
Talk to a CA / CS / legal specialist — Mon – Sat · 11:00 AM – 7:00 PM.
+91 70444 10150
Overview
What is Internal Audit?
Internal Auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps a business accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, internal controls, and governance processes. Under Section 138 of the Companies Act, 2013, it is mandatory for certain classes of companies—including all listed companies and specific unlisted public or private companies—to appoint an internal auditor. Beyond simple statutory compliance, Calcutta Corporate provides thorough internal audit services that dive deep into your financial and operational workflows to identify vulnerabilities, eliminate redundancies, and drive sustainable process optimization.
Why do it
Key Benefits
Process Optimization
Highlights bottlenecks and inefficiencies in your current workflows, providing actionable recommendations to streamline your daily operations.
Statutory Compliance
Ensures strict adherence to the Companies Act, tax laws, and industry-specific regulations, safeguarding your business from costly penalties.
Asset Protection
Evaluates and establishes robust internal controls to systematically safeguard company assets against potential fraud, theft, and misappropriation.
Enhanced Governance
Strengthens your overall corporate governance framework, building immense trust with institutional investors, stakeholders, and the Board of Directors.
External Audit Readiness
Resolves discrepancies and aligns financial reporting early on, preparing your organization for a smooth and frictionless external statutory audit.
How it works
Step-by-Step Process
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01
Scope Definition & Planning
We collaborate closely with your management team to define the audit's precise scope, objectives, and the key high-risk areas to focus on.
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02
Process Understanding
Our auditors conduct detailed walk-throughs and stakeholder interviews to thoroughly understand your current internal controls and Standard Operating Procedures (SOPs).
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03
Fieldwork & Testing
We execute comprehensive testing of financial transactions, accounting records, and operational workflows to accurately assess control effectiveness.
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04
Gap Identification
Vulnerabilities, compliance deviations, and operational inefficiencies are meticulously documented and cross-verified with the respective process owners.
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05
Reporting & Recommendations
A detailed internal audit report is drafted, presenting the key findings alongside strategic, actionable recommendations for immediate process improvement.
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06
Follow-up & Monitoring
We assist management in implementing the recommended controls and conduct periodic follow-up reviews to ensure sustained compliance and risk mitigation.
What you need
Documents Required
- Previous internal and external statutory audit reports
- Standard Operating Procedures (SOPs) and corporate policy manuals
- Detailed organizational chart and delegation of authority matrix
- Current financial statements, trial balance, and general ledger data
- Bank reconciliation statements and cash flow records
- Inventory valuation reports and the fixed asset register
- Statutory compliance filings and challans (GST, TDS, PF, ESIC)
- Copies of material contracts, vendor agreements, and major customer purchase orders
Ready to get started with Internal Audit?
Our team will guide you through every step — from initial risk assessment to final reporting. Most services are completed faster than you expect.