Internal Audit Service Provider in Delhi - Ezybiz India Consulting LLP

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Check the compliance of your business with the Indian Corporate laws and regulations with the internal audit services provided by Ezybiz India Consulting LLP. With our expert professional consulting, know the loopholes in your business operations. Read More: https://ezybizindia.in/internal-audit-services-in-delhi/

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Presentation Transcript

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PRESENTED BY: ANIL AGRAWAL

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 Internal Auditing is an  Independent  Objective Assurance  Consulting Activity  Add Value  Improve Organization’s operations What Is Internal Audit

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 Reliability Integrity Financial Information Operating Information  Compliance With Laws Regulations Plans Policies  Safeguarding of Assets Verify-Existence of Assets Review-Means of Safeguarding Areas of Operation

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 Use of resources  Economic  Efficient  Accomplishment of Established objective  Review Operation or Programs  Ascertain result - Consistent With Established Objectives Areas of Operation

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 Operational Audit  Evaluate Performance  Particular Function or Department  Areas Include  Organizational Structure  Process And Procedure  Accuracy of Data  Staffing And Productivity  Compliance Audit  Statutory Requirement  Areas Adherence To  Established Laws  Regulations Types Of Internal Audit

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 Financial Audit  Historically Oriented  Financial Activity  Completely and Accurately Reflected  Appropriate Financial Reports  Follow Up Audit  Revisit Past Audit’s Recommendations  Management’s Action Plans  Corrective Actions were taken  Investigation Audit  Unusual or Suspicious Activity  Specific Aspect  Assess Weaknesses  Recommend Corrective Action Types Of Internal Audit

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 IT Audit  Safeguarding Assets  Maintaining Data Integrity  Automated Information Processing Systems.  Management Audit  Internal Consulting Projects  Objective Insight-Efficiency -Business Processes Types Of Internal Audit

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 Companies Required to Appoint Internal Auditor  Listed Companies  Unlisted Companies Turnover INR 200crore or more in previous F.Y. Paid-up Share Capital INR 50crore or more in previous F.Y. Outstanding Deposit INR 25crore or more in previous F.Y. Outstanding Loans INR 100crore or more Bank or Public Financial institution  Private Companies Turnover INR 100crore or more in previous F.Y. Outstanding Loans INR 100crore or more Bank or Public Financial institution Requirement Under Companies Act 2013

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 Planning Scope Objectives Review Guidance – Relevant to Audit Review Result – Previous Audit Timeline Budget  Execution Actual Act of Auditing Include Interviewing Key personnel Reviewing Relevant Document Process of Internal Audit

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 Follow-up  Recommendation Implemented Address The Finding Identified  Reporting  Written Clearly Succinctly  Avoid Misinterpretation  Finding Accompanied By Recommendation  Reporting Process Include Drafting Report Review Draft With management Issuance And Distribution of Final Report Process of Internal Audit

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 Increased Size And Complexity of Business  Enhanced Compliance requirement  Focus on Risk management  Unconventional Business mode  Intensive Use of IT Needs of Internal Audit

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 Accomplishing Objectives Through Efficient governance  Determining  Internal Control Measures  Effectiveness Efficiency  Improvement In Internal Control System  Better Corporate Governance Management Advantages of Internal Audit

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 Difficulty In Finding the Right talent  Critical Skills And Attributes Includes Integrity Conflict Management Skills Ability To Communicate  Matching The Skills With Organizations Demands  Delivering Additional Value  Multiple Stakeholder expectations  Perform Duties outside Functionality  Use Of Technology In Internal Audit  Gaining Trust Challenges of Internal Audit

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Characteristics of Excellent Internal Audit Process Scheduled Competent Planned Objective Friendly Manner Audit Findings Recorded Monitored

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Audit Regulatory Taxation Transaction Advisory Valuation EZYBIZ INDIA CONSULTING LLP We at Ezybiz India Consulting LLP is a team of highly experienced and qualified professional Cost Accountants Chartered Accountants and more taking the consulting solution business to next level.

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