Internal Audit Services
Khandhar Mehta and Shah | Internal Audit
internal audit Services
Companies sometimes bear the misconceptions that getting audited is something they should try to avoid until and unless it’s a governmental or statutory obligation.
When it comes to an internal audit, it is often neglected by companies for want of legal obligation or lack of time and resources. But when the management tries and understands the importance and underlying objective of getting internal audits, and all the benefits it offers, the process of internal audit becomes more valuable and pleasant. KMS provides the most precise and best quality internal audit service in Ahmedabad, and here is everything you need to know about our internal audit services.
What is internal audit
Internal auditing is aimed at evaluating the company’s internal control framework, corporate governance mechanism, compliance with laws, accounting processes to ensure accurate and timely financial reporting, operational efficiencies, and safeguarding of assets. Internal audit aids the organization in accomplishing all its strategic missions and objectives by introducing a systematic and disciplined approach and methodology to improve risk management, governance policies and brings compliance to rules and regulations. It provides necessary confidence to the management that the company can meet the demands of the ever-changing external environment.
It is the right time for a business to have a relook at the internal control environment and tweak them appropriately to remain competitive and efficient. Our Internal audit service provides actionable insights to enhance the effectiveness of internal controls.
Our internal audit service helps the executives and board of members with better managing the performance, risks, and output of employees. It helps them in keeping a check on the financial condition of the firm and bring efficiency, effectiveness, and quality in the business. Managing risks, optimizing internal controls, and improving corporate governance are some of the main features of our internal audit services.
Importance and objectives of internal audit…
We firmly believe that internal audits, when carried out with accuracy and transparency, can add so much value to your organization. Our auditors look beyond your financial statements and keep a broader view, which includes a closer look at policies, procedures, operational controls, segregation of duties, and safeguarding of assets. Our internal auditors carry out audits keeping in mind the individuality of each company, scope of work, and objectives of the audit.
Being one of the renowned CA firms in Ahmedabad, we always focus on giving our clients the best in class auditing services that reflect our values and vision of transparency, flawless, and professional work. Visit our CA website to understand and know more about our services and our company. Choose us for your business as the best deserves the best.
our internal audit services
Strategic Review of the Internal Audit Function
Some organizations have their own internal audit department and want us to review their internal audit function. In such cases, we understand and evaluate its operating procedures, methods, and capabilities vis a vis department’s objectives to identify and implement better processes and control mechanisms.
In Co-sourcing assignments, we work with your internal team and provide them with the best practices, software tools, internal audit checklists, and necessary guidelines to carry out their work more effectively. We guide them in every step of the way while carrying out process studies, risk assessment, audit planning, and execution so that they can be self-reliant in this matter.
Outsourced Internal Audit Service
Our outsourced internal audit service is aimed at providing a full-fledged service wherein we carry out the audit with our experienced auditors and domain experts. At the end of the audit, we provide you internal audit report with our recommendations and help you implement those recommendations.
internal controls policies and procedures development
Our internal auditors provide their expert guidance on developing internal control policies and procedures and help you improve the control framework within the organization.
bussiness process optimization
Our auditors study your current business processes, compare them with the best practices, identify weaknesses and improvement opportunities, and devise a new set of business processes to achieve higher efficiencies.
We do undertake follow-up engagements where we help you implement recommendations from the last internal audit report to ensure better compliance and operational efficiencies.
internal audit process that we follow
Our internal audit process includes the following steps:
The final phase of auditing ends with our auditor ensuring that the client is implementing all the important recommendations and ideas. This is one of the most important and crucial steps which is often overlooked or neglected. But as a company for whom clients are the most important asset, we at KMS make sure this last step is also carried out diligently.