Strengthen Risk Management Through Internal Audit
In a Better Regulated Global Financial Environment
Today’s businesses operate in fast-evolving regulatory ecosystems. Internal audits go beyond routine checks—they serve as a proactive tool to assess controls, identify inefficiencies, and enhance governance frameworks.
At Lekshmi N Iyer & Associates, we design internal audit programs tailored to your industry, business maturity, and risk profile. Our work includes control testing, standard operating procedure reviews, and compliance assessments—helping management make informed decisions with confidence.
We function as an independent and objective assurance partner, supporting you in maintaining operational integrity, improving compliance posture, and ensuring audit preparedness throughout the year.
Our Internal Audit Services Include
- Process Walkthrough & Control Testing
Examination of key functions—such as finance, HR, procurement, operations, and IT—to assess the design and implementation of internal controls. - Risk Identification & Gap Analysis
Identification of control weaknesses, process inefficiencies, or potential misstatements. - SOP & Policy Evaluation
Review of internal policies and standard operating procedures to ensure consistency with regulatory best practices. - Compliance Reviews
Assessment of adherence to applicable tax and regulatory statutes, including GST, Income Tax, Company Law, and FEMA. - Management Reporting
Preparation of audit reports summarizing findings, observations, and recommendations for stakeholder consideration.
Includes planning support, periodic audit engagements, and follow-up reviews post-audit.
- Process Walkthrough & Control Testing
Internal Audit That Reinforces Confidence and Control
Internal audits play a critical role in identifying inefficiencies and emerging risks. By providing objective insights and structured reporting, they support management in maintaining robust internal processes and regulatory alignment.
Risk-focused, control-tested, result-driven.
- Objective & Scope Setting
Define key risk areas and establish the scope in consultation with management. - Process Mapping & Control Assessment
Document workflows and evaluate the effectiveness of existing controls. - Evidence Collection
Perform transaction sampling and verify through supporting records. - Gap Identification
Highlight control deficiencies, process bottlenecks, or compliance gaps.
Reporting & Recommendations
Deliver structured reports with observations and suggested action steps.- Objective & Scope Setting
Why Internal Audit Matters Now
Fast-Growing Teams
Detect operational or workflow inefficiencies early in the growth phase.
Multi-Department Companies
Harmonize interdepartmental processes and minimize friction across functions.
Investor-Backed Startups
Demonstrate internal oversight and control readiness ahead of due diligence
NGOs & Educational Trusts
Strengthen accountability, regulatory compliance, and donor confidence.
Internal Audit FAQs
Common questions about income tax, compliance, and litigation support in India.
Is internal audit mandatory?
Not under general law—however, internal audits may be obligatory for certain entities under the Companies Act or SEBI regulations.
How does it differ from statutory audit?
While statutory audits focus on financial compliance, internal audits evaluate operational efficiency, risk mitigation, and internal controls.
Will the audit disrupt operations?
Internal audits are planned with management collaboration to minimize interruptions.
Can you conduct periodic audits?
Yes—we can structure audits quarterly, bi-annually, or annually based on your risk profile and assurance needs.
