Trusted by 10,000+ Businesses

Internal Audit Service

Starting from ₹50,000 + GST

15+ Years Industry Experience
CA & CS Certified Experts
4.9
Based on 500+ reviews

Request a call back

India Flag +91
Get updates on WhatsApp WhatsApp
10,000+ Happy Clients
15+ Years Experience
50,000+ Documents Filed
4.9★ Client Rating
ISO Certified
SSL Secure

Real Stories from Real People

Hear how teams across industries use patron to save time, cut costs, & stay in control.

Sunny Ashpal
Sunny Ashpal

Director - Demandify Media

Anjanay Srivastava
Anjanay Srivastava

Founder and Managing Director - Hunarsource Consulting

I’ve had an outstanding experience working with my CA-patron Accounting . Their professionalism, attention to detail, and timely communication made th...

S

Subhendu Mishra

I'm glad that I was able to connect with Patron. They took the minimum time to do the calculations based on the details provided by me and were really...

R

Rajib Dutta

Really a fantastic experience with Patron accounting especially Shubham, he was extremely great. Knowledgeable person who deserves the 5 star for smoo...

N

Nishikant Gurav

Patron Accounting gives the best service related to all account handling of our firm. I am blessed and extremely happy that Patron Accounting assigned...

N

Nikhil Nimbhorkar

I have called Patron to file ITR for my 5 family members. I worked with Shubham Junjunwala and Amin Jain. It was a smooth process. They understand bas...

S

Sameer Mehta

From the very beginning, their approach has been highly professional, prompt, and solution-oriented. Every interaction reflected their deep knowledge,...

P

Preeti Singh Rathor

Very proficient and professional staff. Do fantastic job and instant response. Strongly recommended engaging them for all accounting needs specially f...

A

Anita Gaur

I contacted them to file the ITR. Shubham was the POC for me and he was really very professional and giving prompt responses. Recommend to give them a...

P

Pankaj Arvikar

Join 10,000+ Satisfied Businesses

Get expert assistance for all your business registration needs

All Accounting Feature in one tool

Internal Audit Service

As a business owner, it’s crucial to understand the importance of internal audits. Internal audits are either performed by a dedicated team within the organization or outsourced to experts. These audits are vital for identifying risks and ensuring long-term sustainability.

Unlike external audits, which focus on financial reporting for stakeholders, internal audits are conducted to assess risk management, internal controls, and governance within the company. Here are some key benefits of internal audits that you should be aware of.

Benefits of Internal Audits

Fraud Detection & Prevention

Internal audits detect and prevent fraud by monitoring controls in financial and operational areas, ensuring business integrity.

Objective Insights for Decision-Making

A robust audit system provides management and the board with objective insights, promoting transparency and informed decision-making.

Investor Trust & Confidence

Strong internal audits build trust among investors, leading to increased confidence and potential investment opportunities.

Process Efficiency & Productivity

Internal audits identify bottlenecks and inefficiencies, helping organizations streamline processes and boost productivity.

Internal Audit Process

Identify Risk Areas

The internal audit team collaborates with management to identify areas of risk, including financial reporting, operational processes, and technical systems.

Data Collection & Control Testing

This step involves gathering data through interviews, document reviews, observations, and testing internal controls. The goal is to collect evidence that supports audit findings and evaluates risks.

Prepare Audit Findings Report

After completing the audit, the internal audit team compiles a detailed report highlighting weaknesses, inefficiencies, and risks discovered during the process.

Submit Report for Review

The final report is submitted to the board of directors or other relevant authorities for review and action.

Documents Required for Internal Audits

  • Checklist Icon

    Financial statements

  • Checklist Icon

    Internal control policies

  • Checklist Icon

    Employee records

  • Checklist Icon

    Previous audit reports

  • Checklist Icon

    Contracts and agreements

Frequently Asked Questions

Have a look at the answers to the most asked questions.

FAQ Illustration

The core purpose is to evaluate and improve the internal controls, governance, and overall efficiency of the organization.

Internal audits can be conducted quarterly, semi-annually, or annually, depending on the size and profile of the organization.

Typically, an internal audit team performs the audit, but organizations may also hire external firms for this purpose.

Internal audits help identify potential risks, ensuring the organization is prepared to handle operational and financial uncertainties.

Management is responsible for providing the necessary data and implementing decisions based on audit findings. They play a key role throughout the audit process.
Back to Top