Internal Audit
What is Internal Audit?
Internal Audit is a department or an organization of people within a company that is tasked with providing unbiased, independent reviews of systems, business organizations, and processes. The role of Internal Audit is to provide senior leaders and governing bodies of an organization an objective source of information regarding the organizationโs risks, control environment, operational effectiveness, and compliance with applicable laws and regulations.
What Does the Audit Cover?
- Internal Audits โ Internal Controls related to:
- Governance
- Risk Management
- Process Improvement
Why is the Audit Performed?
To assess and improve the effectiveness of governance, risk management, and control over critical processes. To provide the board and management with information and assurance related to their duties.
Internal Audit as per Section 138 of the Companies Act 2013
