Company needs Internal Audit - Eybiz India Consulting LLP do it for you

1. Presented by: Anil Agrawal

2. Contents 1. 2. 3. 4. 5. What is Internal Auditing? Key areas of Internal Audit Importance of Internal Audit Internal Audit Checklist How we can help you?

4. What is Internal Audit? Internal audit is also called as Management audit because it is conducted on behest of management of the company. Here, focus is completely different than that of Tax audit or statutory audit.

6. Key areas of Internal Audit • Review of systems and procedures applicable to the organization and provide Suggestions for improving them. • Review of adequacy and effectiveness of Internal Controls. • Physical examination and verification of stock, tangible assets and cash treasury. • Examination of internal policies/ guidelines prescribed by the management for the company, its compliance and reporting of variances if any. • Review of all statutory and legal compliance applicable in case of branch and reporting of deficiency, if any • Review of adherence to standard auditing procedures and reporting its deviation, if any. • Checklist provided by the head office.

7. Importance of Internal Audit Importance of Internal Audit 1. It provides objective assurance to the company. 2. It helps an organization in accomplishing the objectives and goals. 3. It brings a systematic approach to the risk management and internal controls. 4. It improves the corporate governance process. 5. It provides value to the senior management and governing bodies of the organization. 6. It provides an insight of the business module of the organization. 7. It helps the business in detecting any fraudulent activity or forging at the ground as well as the upper level. 8. It provides the recommendations and suggestion to improvise and bringing in all the important changes in the business entity.

8. Internal Audit Checklist The Internal Audit Checklist includes the following: • • • • • • • • • • • • • Non Corporate KYC Corporate KYC Other than KYC Statutory Compliance Compliance Compliance under Other Relevant Enactments Compliance Under Indirect Tax Purchase/ Procurement Sales/Service/Revenue Inventory and Stores Management Operational and Admin Expenses HR and Payroll Individual KYC

9. How we can help you? Evaluating the various process and procedures to regulate very effective corporate governance. Evaluating the structure of the corporate governance. Advising on management and operational risk to improve the risk control management. Assisting on the trends in the business world, about the new technology and changes to keep the business up to date and upgraded. Assisting the staff to bettering and chiseling their skills for more productive results. Developing risk based assurance plans for the company.

10. EZYBIZ INDIA CONSULTING LLP ARE A TEAM OF HIGHLY EXPERIENCED AND QUALIFIED PROFESSIONALS, CHARTERED ACCOUNTANTS, COMPANY SECRETARIES AND MBAs WHO ARE SPECIALISTS IN THEIR OWN FIELDS AND PROVIDE EXPERT SERVICE TO DOMESTIC AND MULTINATIONAL COMPANIES. For more information and queries visit us at https://ezybizindia.in/