What is internal audit?
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organisation’s operations. It helps an organisation accomplish its objectives by bringing a systematic, disciplined approach to evaluating and improving the effectiveness of risk management, control, and governance processes.
What is concurrent audit?
Concurrent audit aims to shorten the interval between a transaction and its independent examination. It is therefore integral to the establishment of sound internal accounting functions and effective controls, and is regarded as part of a business entity’s early-warning system — ensuring timely detection of serious errors and irregularities, helping avert non-compliance with various statutes, and surfacing errors or omissions in the accounting system and weaknesses in internal controls.
A sound concurrent and internal audit reporting system, together with efficient follow-up action on the internal / concurrent audit reports and high-priority rectification of deficiencies, will help the entity in early detection and correction of errors and non-compliances.
How we help
Our firm, with a young and dynamic team of experienced professionals, is well equipped to deliver internal and concurrent audits of banks, corporates, and non-corporate business entities. We also provide internal audit services for corporates as required under Section 138 of the Companies Act, 2013.
Talk to a partner.
A 30-minute call with a partner — no deck, no follow-up email blasts. Just a read on whether we’re the right team to handle your internal / concurrent audit.