Direct Tax
Consulting
ESG Advisory
Indirect Tax
Growth Advisory
Internal Audit
BFSI Audit
Industry Audit
Valuation
RBI Services
SEBI Services
IRDA Registration
AML Advisory
IBC Services
NBFC Compliance
IRDA Compliance
Finance & Accounts
Payroll Compliance Services
HR Outsourcing
LPO
Fractional CFO
General Legal
Corporate Law
Debt Recovery
Select Country
Worried about inconsistent financial reporting and complex audits? Rely on our internal audit services to mitigate business risk.
100000
500
50
REQUEST A CALL BACK
Rated at 4.8/5 21,789+ Happy Reviews
Index Internal Audit Services – An Overview Internal Audit Challenges Features of Internal Audit Internal Audit Benefits Internal Audit Process Internal Audit Types Internal Audit Packages Schedule Meeting Internal Audit Services – An Overview Aspect Details Fees Starting from Rs 21,999 Internal Audit Procedure Internal audit procedure is divided into four phases: Planning Reporting Fieldwork Follow-up Timeframe Depends upon factors such as size of the business, scalability, etc. How Can We Help You? Risk Assessment Audit Planning Fraud Prevention & Detection Audit Outsourcing Audit Reporting Internal Audit Consulting Risk Management Identifying potential risks affecting business operations Recommending processes to mitigate business risks Compliance Monitoring Ensuring business operations comply with laws & regulations Verifying adherence to company policies & ethical standards Boost Your Business Confidence with our Internal Audit Services Take charge of your business's success with our cutting-edge Internal Audit services. Our expert consultants offer clear, actionable recommendations that help you boost your operational efficiency and financial integrity. At Enterslice, we go beyond traditional audits to provide a detailed analysis that highlights strengths, identifies risks, and ensures compliance with all regulations. Let us handle auditing while you focus on achieving your business goals, inspiring you to reach new heights. Get started today! Implement Internal Audit Function Performance & Quality Reviews Network of 500+ Certified Auditors Policies & Procedures Manuals Cost & Efficiency Reviews 50% Improvement in Decision Making Internal Audit Challenges with Strategic Precision Internal audits are important to ensure organizational compliance and operational efficiency. However, these audits come with a set of challenges that need to be dealt with strategic precision. Steering past complex regulations, managing risk, and ensuring neutral assessments demand thorough planning. By addressing these problems with a focused approach and taking internal audit services, organizations can boost audit efficacy and align results with strategic goals. Risk Management Actively participate in identifying and managing risks to strengthen governance frameworks. Process Enhancements Overcome challenges by pinpointing inefficiencies and recommending actionable process improvements. Strategic Recommendations Research and follow internal audit best practices to drive necessary changes. Cost Efficiency Tackle the cost management challenge by structuring the internal audit function to maximize efficiency and value. Technology Integration Adopt technology to streamline your audit processes, simplify tasks & improve overall efficiency. Why Is Internal Audit Important for Your Organization? Internal audit programs ensure your processes align with established policies and procedures. Here’s why internal auditing is indispensable for your organization’s success: Gain unbiased operational insights Streamline processes, boost performance Protect resources from threats Strengthen internal controls Ensure regulatory alignment Safeguard business assets Features of Internal Audit There are several features of internal audit that one must know to enhance the performance of the business. Some of the key features of internal audit include the following: Independent, unbiased, and objective evaluations A systematic, organized and structured process Focused on identifying and managing risks Continuous monitoring and assessment of controls and processes Verifying compliances, monitoring adherence to laws and policies Operational review through efficiency evaluation and effectiveness Fraud detection through identification and examination of potential scams Offer advisory through recommendations for better governance and operations Documenting all findings and procedures Reporting and communicating findings and results to management and stakeholders Benefits of Internal Audit Internal audit is beneficial for smooth functioning of the business operations. The benefits of internal audit include the following: Strong Internal Controls Internal audits comprehensively evaluate your internal controls, which include actions, systems, and processes, to verify their effectiveness and efficiency. This ensures that controls work efficiently, regardless of who takes on each role. Boost Efficiency Remove duplications in your processes, protocols, and management. Internal audits provide practical insights to optimize operations, saving time and cost. It is one of the substantial benefits of internal audit. Enhance Security Conduct internal audits to discover your cybersecurity landscape. Recognize every digital resource, evaluate their adherence, and expose weaknesses. Receive expert advice on how to address deficiencies and strengthen your defence. Ensure Integrity Confirm that your systems function correctly and fulfil management's commitments. Internal audits identify potential system failures and risks of human error, guaranteeing efficient operation and dependability. Mitigate Risks Analyse all identified risks and assess the effectiveness of your risk mitigation measures. Internal audit reports provide clear recommendations to address gaps and strengthen risk management. Boost Compliance Assess how well you comply with laws, regulations, and industry standards. Internal audits ensure that rules are followed and advise how to make changes to meet legal and regulatory standards. Boost Your Compliance with Our Premier Internal Audit Services Enterslice is an internal audit consulting firm that connects you with top-tier professionals in India, including Chartered Accountants (CA), Company Secretaries (CS), and Corporate Lawyers, to support your Internal Audit needs. We follow internal audit best practices, and our experienced advisors provide comprehensive consultation, guiding you through the essential documentation required for effective internal audits. Our internal audit services will help you transform your business. Internal Audit Process – A Step-by-Step Guide To perform an internal audit, establish goals and boundaries, strategize the audit, collect and assess data, examine controls, collaborate with management to create and review the report, complete it, apply suggestions, and evaluate the enhancements process. The internal audit process includes the following steps: Planning Establish audit scope & objectives by examining laws, regulations, policies, and industry standards. Establish a schedule, create an auditing plan, identify primary process owners & launch meetings. Fieldwork Conduct the audit plan by interviewing important staff, testing controls, and recording results. Recognize any special cases and suggest ways to conduct a comprehensive assessment. Reporting Create a precise and easily understandable audit report with practical suggestions for action. Examine the draft with management to ensure accuracy before completing and sharing the report. Follow-up Ensure the implementation of suggestions by taking updates from concerned authorities. Keep track of advancements and engage the Board in monitoring the resolution of audit discoveries. Types of Internal Audits Internal audits concentrate on assessing controls for financial reporting to guarantee compliance with GAAP (generally accepted accounting procedures) and accuracy. In addition to finance, they address different operational risks as well. Types of internal audits include the following: Financial Audit This Audit analyzes a company's financial records to determine their accuracy. It helps detect malpractices, misrepresentation, and financial mismanagement. Submission of audited reports is mandatory to meet compliance requirements and regulations. Operational Audit This Audit comprehensively evaluates a company's operations, systems, and processes, evaluating their efficacy, worth, and overall performance. A type of performance audit, it also evaluates an entity's financial accountability systems. Environmental Audits This Audit measures your operations' environmental impact and ensures that your company adheres to all relevant environmental laws and regulations. It offers critical insights to enhance sustainability and ensure regulatory compliance. IT Audits IT Audits ensure the accuracy and security of systems by thoroughly examining controls for access, change management, operations, and backup. They help safeguard data and protect the organization's infrastructure. Compliance Audit This Audit evaluates compliance with laws, rules, and policies to protect financial well-being. Non-compliance can lead to substantial penalties, legal repercussions, or restrictions on the functioning of businesses in essential sectors. Performance Audit Oversee and verify that your company meets the strategic goals and objectives the Board of Directors established. It promotes success, accountability, and alignment with the organization's long-term vision and mission. Information Systems (IS) Audit This Audit assesses the effectiveness and controls of automated information systems. It focuses on input/output, accuracy, processing integrity, backups, and disaster recovery plans to ensure robust security measures. Construction Audit This Audit is a comprehensive examination of a project's costs, processes, contracts & performance. Its purpose is to ensure efficient project management & verify that the owner receives the expected value for their investment. Internal Audit Applicability Internal Audit is applicable to various organizations, including government entities, businesses, and non-profit organizations. It is important for ensuring compliance, improving risk management processes, boosting operational efficiency, and protecting assets. Who Should Appoint an Internal Auditor? Companies mandated to appoint an internal auditor as per rule 13 of the Companies (Accounts) Rules, 2014 of the Companies Act of 2013 are listed below: Listed Companies :- Depending on your business needs, choose the appropriate company structure—a Private Limited Company, a Public Limited Company, a Limited Liability Partnership (LLP), etc. Unlisted Public Companies :- Unlisted public companies that meet any of the following criteria during the preceding financial year must conduct an internal audit: 1 :- If the turnover is Rs. 200 Crore or more 2 :- If the paid-up share capital is worth Rs. 50 Crore or more 3 :- If the outstanding loans or borrowings exceed the limit of Rs. 100 Crore from banks/financial institutions at any given point in time 4 :- If the outstanding deposits are more than Rs. 25 Crore in value at any given point in time Private Companies :- Private companies that meet any of the following criteria during the preceding financial year must conduct an internal audit: 1 :- If the turnover is Rs. 200 Crore or more 2 :- If the outstanding loans or borrowings exceed the limit of Rs. 100 Crore from banks/financial institutions at any given point in time Our Comprehensive Internal Auditing Package Policies & Procedure Manuals :- Create detailed manuals outlining company policies and procedures, ensuring consistent operations, regulatory compliance, and clear guidance for employees across all business functions. Setting up the Internal Audit Functions :- Establish internal audit functions to assess risks, improve processes, and ensure compliance, contributing to better governance and organizational efficiency. Capital Consulting Projects :- Provide strategic advice on capital projects, optimizing planning, financing, and execution to align with business goals and maximize resource utilization. Capacity Building & Outsourcing :- Boost internal skills & effectively manage outsourcing, improving operational efficiency while allowing focus on core business activities. Quality Assurance Reviews :- Perform reviews to ensure products, services, and processes meet quality standards, boosting customer satisfaction and regulatory compliance. Audit Planning :- Our audit planning strategy ensures customized audit plans for your business growth. Benchmarking Support :- We compare your financial performance against industry standards with our detailed audit support. Process Evaluation :- We conduct a thorough analysis of internal controls and business processes to streamline your business operations. Why Choose Enterslice as your Reliable Partner for Internal Audit? Enterslice understands the importance of internal audit. Our expert team turns a potentially complex process into a streamlined, strategic advantage for your business. We're here to make your internal audit journey quick and seamless and to be a game-changer for your financial integrity. Discover how we can meet the objective of internal control for your business and simplify your audit experience with our internal audit services: End-to-end Internal Audit Services to Meet your Business Requirements 15+ Years of Experience in Providing Internal Audit Services Secure Financial Operations through our Internal Audit Services Save up to 30% on Auditing Costs with our Streamlined Processes Fulfil your Business Needs by Meeting the Objectives of Internal Audit Enhance your Audit Accuracy and Efficiency by 70% 24/7 Availability for Post-auditing Consultation Support Capable of Handling Audits for SMEs to Fortune 500 Companies Transparent Audit Experience like Never Before Frequently Asked Questions What is an internal audit? Internal audit independently assesses an organization's processes, controls, and risk management. Through systematic evaluations and recommendations, it aims to boost efficiency, meet compliance, and improve overall governance. Which companies need an internal audit? Every company, regardless of its turnover, needs a statutory audit. However, companies with an annual turnover of more than Rs. 1 crore are mandated to have an internal audit. What are the significant areas of internal audit? The significant areas of internal audit include the following: Financial Controls – Accuracy assessment and financial reporting Operational Efficiency – Evaluating processes for optimal performance Compliance – Ensuring adherence to laws, regulations and policies Risk Management – Identifying and mitigating potential risks IT Systems – Reviewing security and effectiveness of information systems What are the pillars of internal audit? The pillars of internal audit include the following: Independence & Objectivity – Ensuring unbiased evaluations and judgements Professional Competence – Maintaining expertise and skills in auditing practices Risk Management – Identifying, assessing and mitigating risks Internal Controls – Evaluating and enhancing control processes Governance – Supporting effective governance and ethical standards within the organization What are the internal audit standards? There are five globally recognized internal audit standards are the following: Purpose of Internal Auditing Ethics & Professionalism Governing the Internal Audit Functions Managing the Internal Audit Function Performing Internal Audit Services What are the objectives of internal control? Internal audit control strives to ensure that risk management, control, and governance processes are managed effectively. The primary objectives of internal control are- Improving business operations Safeguarding assets of the organization Identifying vulnerabilities and implementing preventive measures Ensuring accuracy and reliability of financial reporting Who has the authority to appoint an internal auditor? Internal auditors can be appointed only if the company's Board of Directors passes a resolution per Rule 8 of the Companies (Meeting of Board and its Powers) Rules, 2014. Once the resolution is passed, the company must file Form MGT-14 with the Registrar of Companies within 30 days. Who has the authority to remove the internal auditor? The company's management has the authority to remove the internal auditor. However, the shareholders can remove a statutory auditor from their position. Who can become an internal auditor? As per Section 138 of the Companies Act, any person qualified as a chartered accountant, cost accountant, company secretary or any other professional decided by the company's Board of Directors is eligible to become an internal auditor. Who cannot become the internal auditor? According to Section 144(b) of the Companies Act 2013, a statutory auditor cannot be appointed as the internal auditor. As per the rules, a statutory auditor and an internal auditor cannot be the same person. What is the scope of internal auditing? The scope of internal auditing includes: Financial Audits Operational Audits Compliance Audits Risk Management IT Audits Fraud Audits Governance Audits Governance Audits Is internal auditing high in demand? Internal auditing is highly demanded. In fact, internal auditors are among the most sought-after professionals worldwide since they help boost internal controls and promote transparency in an organization. What are the objectives of internal audit? The notable objectives of internal audit include measuring the current performance of all spheres of a business venture and finding significant areas for improvement. What are the advantages of internal audit? Advantages of internal audit include improved risk management, better internal controls, operational efficiency, compliance assurance, objective insights, fraud prevention and strategic recommendations. What are the objectives of investigation in auditing? The objectives of investigation in auditing include discovering fraud, identifying financial disproportions, ensuring compliance, adherence to laws and policies, assessment of internal controls and documenting evidence-based insights to support corrective actions and decision-making.
Take charge of your business's success with our cutting-edge Internal Audit services. Our expert consultants offer clear, actionable recommendations that help you boost your operational efficiency and financial integrity. At Enterslice, we go beyond traditional audits to provide a detailed analysis that highlights strengths, identifies risks, and ensures compliance with all regulations. Let us handle auditing while you focus on achieving your business goals, inspiring you to reach new heights. Get started today!
Implement Internal Audit Function
Performance & Quality Reviews
Network of 500+ Certified Auditors
Policies & Procedures Manuals
Cost & Efficiency Reviews
50% Improvement in Decision Making
Internal audits are important to ensure organizational compliance and operational efficiency. However, these audits come with a set of challenges that need to be dealt with strategic precision. Steering past complex regulations, managing risk, and ensuring neutral assessments demand thorough planning. By addressing these problems with a focused approach and taking internal audit services, organizations can boost audit efficacy and align results with strategic goals.
Actively participate in identifying and managing risks to strengthen governance frameworks.
Overcome challenges by pinpointing inefficiencies and recommending actionable process improvements.
Research and follow internal audit best practices to drive necessary changes.
Tackle the cost management challenge by structuring the internal audit function to maximize efficiency and value.
Adopt technology to streamline your audit processes, simplify tasks & improve overall efficiency.
Internal audit programs ensure your processes align with established policies and procedures. Here’s why internal auditing is indispensable for your organization’s success:
Gain unbiased operational insights
Streamline processes, boost performance
Protect resources from threats
Strengthen internal controls
Ensure regulatory alignment
Safeguard business assets
There are several features of internal audit that one must know to enhance the performance of the business. Some of the key features of internal audit include the following:
Internal audit is beneficial for smooth functioning of the business operations. The benefits of internal audit include the following:
Internal audits comprehensively evaluate your internal controls, which include actions, systems, and processes, to verify their effectiveness and efficiency. This ensures that controls work efficiently, regardless of who takes on each role.
Remove duplications in your processes, protocols, and management. Internal audits provide practical insights to optimize operations, saving time and cost. It is one of the substantial benefits of internal audit.
Conduct internal audits to discover your cybersecurity landscape. Recognize every digital resource, evaluate their adherence, and expose weaknesses. Receive expert advice on how to address deficiencies and strengthen your defence.
Confirm that your systems function correctly and fulfil management's commitments. Internal audits identify potential system failures and risks of human error, guaranteeing efficient operation and dependability.
Analyse all identified risks and assess the effectiveness of your risk mitigation measures. Internal audit reports provide clear recommendations to address gaps and strengthen risk management.
Assess how well you comply with laws, regulations, and industry standards. Internal audits ensure that rules are followed and advise how to make changes to meet legal and regulatory standards.
Enterslice is an internal audit consulting firm that connects you with top-tier professionals in India, including Chartered Accountants (CA), Company Secretaries (CS), and Corporate Lawyers, to support your Internal Audit needs.
We follow internal audit best practices, and our experienced advisors provide comprehensive consultation, guiding you through the essential documentation required for effective internal audits. Our internal audit services will help you transform your business.
To perform an internal audit, establish goals and boundaries, strategize the audit, collect and assess data, examine controls, collaborate with management to create and review the report, complete it, apply suggestions, and evaluate the enhancements process. The internal audit process includes the following steps:
Establish audit scope & objectives by examining laws, regulations, policies, and industry standards. Establish a schedule, create an auditing plan, identify primary process owners & launch meetings.
Conduct the audit plan by interviewing important staff, testing controls, and recording results. Recognize any special cases and suggest ways to conduct a comprehensive assessment.
Create a precise and easily understandable audit report with practical suggestions for action. Examine the draft with management to ensure accuracy before completing and sharing the report.
Ensure the implementation of suggestions by taking updates from concerned authorities. Keep track of advancements and engage the Board in monitoring the resolution of audit discoveries.
Internal audits concentrate on assessing controls for financial reporting to guarantee compliance with GAAP (generally accepted accounting procedures) and accuracy. In addition to finance, they address different operational risks as well. Types of internal audits include the following:
This Audit analyzes a company's financial records to determine their accuracy. It helps detect malpractices, misrepresentation, and financial mismanagement. Submission of audited reports is mandatory to meet compliance requirements and regulations.
This Audit comprehensively evaluates a company's operations, systems, and processes, evaluating their efficacy, worth, and overall performance. A type of performance audit, it also evaluates an entity's financial accountability systems.
This Audit measures your operations' environmental impact and ensures that your company adheres to all relevant environmental laws and regulations. It offers critical insights to enhance sustainability and ensure regulatory compliance.
IT Audits ensure the accuracy and security of systems by thoroughly examining controls for access, change management, operations, and backup. They help safeguard data and protect the organization's infrastructure.
This Audit evaluates compliance with laws, rules, and policies to protect financial well-being. Non-compliance can lead to substantial penalties, legal repercussions, or restrictions on the functioning of businesses in essential sectors.
Oversee and verify that your company meets the strategic goals and objectives the Board of Directors established. It promotes success, accountability, and alignment with the organization's long-term vision and mission.
This Audit assesses the effectiveness and controls of automated information systems. It focuses on input/output, accuracy, processing integrity, backups, and disaster recovery plans to ensure robust security measures.
This Audit is a comprehensive examination of a project's costs, processes, contracts & performance. Its purpose is to ensure efficient project management & verify that the owner receives the expected value for their investment.
Internal Audit is applicable to various organizations, including government entities, businesses, and non-profit organizations. It is important for ensuring compliance, improving risk management processes, boosting operational efficiency, and protecting assets.
Companies mandated to appoint an internal auditor as per rule 13 of the Companies (Accounts) Rules, 2014 of the Companies Act of 2013 are listed below:
1 :- If the turnover is Rs. 200 Crore or more
2 :- If the paid-up share capital is worth Rs. 50 Crore or more
3 :- If the outstanding loans or borrowings exceed the limit of Rs. 100 Crore from banks/financial institutions at any given point in time
4 :- If the outstanding deposits are more than Rs. 25 Crore in value at any given point in time
2 :- If the outstanding loans or borrowings exceed the limit of Rs. 100 Crore from banks/financial institutions at any given point in time
Enterslice understands the importance of internal audit. Our expert team turns a potentially complex process into a streamlined, strategic advantage for your business. We're here to make your internal audit journey quick and seamless and to be a game-changer for your financial integrity. Discover how we can meet the objective of internal control for your business and simplify your audit experience with our internal audit services:
Internal audit independently assesses an organization's processes, controls, and risk management. Through systematic evaluations and recommendations, it aims to boost efficiency, meet compliance, and improve overall governance.
Every company, regardless of its turnover, needs a statutory audit. However, companies with an annual turnover of more than Rs. 1 crore are mandated to have an internal audit.
The significant areas of internal audit include the following:
The pillars of internal audit include the following:
There are five globally recognized internal audit standards are the following:
Internal audit control strives to ensure that risk management, control, and governance processes are managed effectively. The primary objectives of internal control are-
Internal auditors can be appointed only if the company's Board of Directors passes a resolution per Rule 8 of the Companies (Meeting of Board and its Powers) Rules, 2014. Once the resolution is passed, the company must file Form MGT-14 with the Registrar of Companies within 30 days.
The company's management has the authority to remove the internal auditor. However, the shareholders can remove a statutory auditor from their position.
As per Section 138 of the Companies Act, any person qualified as a chartered accountant, cost accountant, company secretary or any other professional decided by the company's Board of Directors is eligible to become an internal auditor.
According to Section 144(b) of the Companies Act 2013, a statutory auditor cannot be appointed as the internal auditor. As per the rules, a statutory auditor and an internal auditor cannot be the same person.
The scope of internal auditing includes:
Internal auditing is highly demanded. In fact, internal auditors are among the most sought-after professionals worldwide since they help boost internal controls and promote transparency in an organization.
The notable objectives of internal audit include measuring the current performance of all spheres of a business venture and finding significant areas for improvement.
Advantages of internal audit include improved risk management, better internal controls, operational efficiency, compliance assurance, objective insights, fraud prevention and strategic recommendations.
The objectives of investigation in auditing include discovering fraud, identifying financial disproportions, ensuring compliance, adherence to laws and policies, assessment of internal controls and documenting evidence-based insights to support corrective actions and decision-making.
Red Herring Top 100 Asia enlists outstanding entrepreneurs and promising companies. It selects the award winners from approximately 2000 privately financed companies each year in the Asia. Since 1996, Red Herring has kept tabs on these up-and-comers. Red Herring editors were among the first to recognize that companies such as Google, Facebook, Kakao, Alibaba, Twitter, Rakuten, Salesforce.com, Xiaomi and YouTube would change the way we live and work.
Researchers have found out that organization using new technologies in their accounting and tax have better productivity as compared to those using the traditional methods. Complying with the recent technological trends in the accounting industry, Enterslice was formed to focus on the emerging start up companies and bring innovation in their traditional Chartered Accountants & Legal profession services, disrupt traditional Chartered Accountants practice mechanism & Lawyers.
-- Testimonials
“Enterslice use technology better than others. That saves time and money; Team enterslice is more efficient than traditional competitors, and that helps to pass on the cost advantage to its clients. The company is building a high-level transparency in legal services by optimum use of technology and process automation in consulting. I highly recommend this company.”
“Excellent advisory role by Enterslice Team. They are a trusted partners to us. Narendra and his team helped us with our pre NBFC applications and Post NBFC advisory services.”
“Amazing services provided by your organization. They have completed our NBFC registration order within stipulated time period of 90 days. They provide constant guidance and support in the process. Their support in building fintech software is amazing.”
“I chose Enterslice to start my new Indian adventure as entrepreneur, and respect my past experience i was surprised by their professionalism. In particular, Raksha T. followed my startup process, and i was delighted with her support on every moment. Great, great experience.”
“I came to know about Enterslice through a friend. Since then I have done GST Registration through them. The services are consumer centric and fast. I have recommended them to many of my acquaintance already.”
“Great set of people working together. Very customer friendly. I am very satisfied with the food license registration services and will definitely come back for other similar requirements.”
“They provided customized and Highly skilled CA &services. The management invests themselves in your work. They ensured timely NBFC registration and are always ready and prepared with excellent advisory services. The best part of working with Enterslice is they are not having expertise of law but they are well versed with Digital marketing skills &fintech business model.”
“I have registered my Trademark through them. The application was filed within 3 days. And the charges were also very reasonable. We got TM Approved in 6 month’s time without any re-submission or objection. They charge high to deliver the best in industry.”
“I would like to thank the Enterslice team for the excellent business plan made by them. They understood our requirement and gave us exactly what we wanted. Thank you Team Enterslice.”
“Thanks for your services. The team is really professional. They make sure that things are delivered in time. The best part about Enterslice is the consultative approach and guiding us on all our business matters.”
Haiden Group - UAE
Stay updated with all the latest legal updates. Just enter your email address and subscribe for free!
Chat on Whatsapp
Hey I'm Pooja. Let's Talk!
(+91) 9870310368 
(+1) 6292766228