An internal audit is an ongoing, independent evaluation of an organisation’s internal controls, risk management and operations. Unlike a statutory audit, which is mandated by law and focused on the financial statements, an internal audit is management-driven and forward-looking — its purpose is to help leadership find weaknesses, reduce risk and run the business better.
Internal audit is voluntary for many businesses but mandatory for certain companies under Section 138 of the Companies Act, 2013 read with Rule 13 — including every listed company, and unlisted or private companies that cross prescribed limits (broadly, turnover of ₹200 crore, or outstanding bank borrowings of ₹100 crore, with additional capital and deposit tests for public companies). Growing SMEs, manufacturers and multi-location businesses also use internal audit to keep controls strong as they scale.
Our risk-based internal audit covers process and control reviews, internal financial controls (IFC), revenue assurance, procurement and payables, inventory, statutory compliance and fraud-risk checks. We agree an audit plan with management, test the key controls and transactions, and report findings with a clear risk rating.
You receive a practical internal audit report with prioritised observations, root causes and actionable recommendations, plus follow-up on previous findings. The result is tighter controls, fewer surprises at statutory audit time, and better-informed decisions for your board and management.
Our Strength Lies in Providing Real-World Practical Solutions
We plan every statutory audit around your AGM and ROC deadlines, so Form AOC-4 and MGT-7 are always filed on time. Our team works to a clear schedule and keeps you updated at each stage, so you never miss a statutory due date.
You get a thorough, Standards-compliant audit at transparent, competitive fees with no surprises. Because we deliver statutory audit, tax audit and ROC filing together, you save on duplicated effort and overall cost.
Our experienced team of Chartered Accountants, Company Secretaries and consultants handles the full compliance chain under one roof — statutory audit, tax audit, GST audit, internal financial controls and annual ROC filings — so everything stays coordinated and consistent.
AVS & Associates is a peer-reviewed CA firm founded by CA Vishnu Agrawal, with 25+ years of experience and five partners. We maintain the highest ethical and professional standards on every engagement, with complete client confidentiality.