In current scenarios, internal audit is seen and implemented as a key strategic tool which can add value to the company by reducing the challenges faced by management, audit committee, and other associated stakeholders. Internal Audit is a third-party evaluation of the operations of an entity with an objective to improve performance, develop a strategy to manage the risks, maximize the value of the entity, and identify any opportunity of further improvement.
As per the standards laid down by The Institute of Chartered Accountants of India (ICAI), Internal Audit is broadly defined as a Risk Management Function independently carried out to assist the Management of an organization to get clarity on the effectiveness of the internal controls in place.
Also as per Securities and Exchange Board of India (SEBI), there is a statutory clause 49 of the Listing agreement which requires any listed entity to ensure that Internal audit function is being made functional.
We at Kansal Jain and Associates assist our clients with an in-depth analysis of their operations. We provide them with impartial and unbiased opinion and further advise them on critical risk areas and possible opportunities for improvement. With our integrated approach to internal audit we help our clients to boost their performance and add value of their operations.
Our dedicated team of experienced and certified professionals assists our clients to understand the various aspects of internal audit and customize audit techniques as per client requirements to conduct the audit of internal financial controls over financial reporting.