Follow Us :

Internal Audit

Latest Articles


Internal Audit’s role in managing disruption in an organization

CA, CS, CMA : Discover how internal audits play a crucial role in identifying and managing disruptions within organizations, ensuring smooth and...

May 21, 2024 399 Views 0 comment Print

Mandatory Appointment of Internal Auditor: Section 138 Companies Act 2013

Company Law : Understand the mandate of appointing internal auditors as per Section 138 of the Companies Act 2013. Explore the criteria for mand...

May 17, 2024 1194 Views 0 comment Print

Case Study on Internal Audit Case of NSEL

CA, CS, CMA : Explore the NSEL internal audit case, uncovering gaps in compliance, fraudulent practices, and the crucial lessons learned for cor...

April 3, 2024 987 Views 1 comment Print

Evolving Role of Internal Auditors (IA) in NBFC Risk Management

CA, CS, CMA : Explore the changing landscape of internal audit roles in Non-Banking Financial Companies (NBFCs), regulatory shifts, and their im...

March 13, 2024 597 Views 0 comment Print

Tips for Internal Audit for scrap metal and other materials from different sections of manufacturing unit

CA, CS, CMA : Learn how to conduct an internal audit on scrap metal and materials, ensuring compliance, efficiency, and accuracy with a comprehe...

February 13, 2024 1026 Views 0 comment Print


Latest News


CA Firms Engagement in PSBs: Recent Changes and Trends

CA, CS, CMA : Discover the latest developments in the engagement of CA firms by PSBs. Explore changes in concurrent audit policies, RBI directiv...

December 5, 2023 1242 Views 0 comment Print

Allow company Secretaries to do Internal Audit of Companies under Section 138: ICSI

CA, CS, CMA : Proposed amendments to Section 138 of Companies Act, 2013 by ICSI. Understand why Company Secretaries are equipped to conduct inte...

September 8, 2023 33522 Views 1 comment Print

FAQs: Professional ethics of members pertaining to Bank Assignments

CA, CS, CMA : Firm of Chartered Accountants cannot accept branch Audit of the Bank if one of the partners has taken the loan from any branch of ...

April 10, 2023 9192 Views 0 comment Print

ICAI clarifies on LFAR & Certification by Concurrent/Internal Auditor

CA, CS, CMA : The concurrent Auditor of a Branch can undertake the assignment of LFAR only with respect to Branches which are not subject to Sta...

April 10, 2023 7617 Views 0 comment Print

PFRDA to Appoint CA/CMA firm as Internal Auditor

CA, CS, CMA : Request for Proposal for Appointment of Chartered Accountant/Cost Accountants Firm as Internal Auditor of PFRDA for the F.Y.2021-2...

September 27, 2021 1326 Views 0 comment Print


Latest Notifications


Non-appointment of Internal Auditor: MCA imposes ₹2.5 Lakh Penalty

Company Law : Government imposes a penalty of ₹2.5 lakh on Systematix Securities Ltd for not appointing an internal auditor during FY 2022-23,...

April 4, 2024 1062 Views 0 comment Print

Company Failed to Appoint Internal Auditor: MCA imposes Penalty of Rs. 4.50 Lakh

Company Law : Read the adjudication order on Kudos Finance & Investments Private Limited as MCA imposes a penalty of Rs. 4.50 lakh for violating...

February 9, 2024 345 Views 0 comment Print

Non-appointment of Internal Auditor (Section 138(1): MCA Imposes Penalty

Company Law : MCA imposed penalties on Muthootu Mini Nidhi Limited for non-compliance with provisions of Section 138 of Companies Act, 2013. Pen...

November 9, 2023 21990 Views 0 comment Print

Risk Based Internal Audit (RBIA) in NBFCs/UCBs

Fema / RBI : An independent and effective internal audit function in a financial entity provides vital assurance to the Board and its senior ma...

February 3, 2021 5826 Views 0 comment Print

Internal Audit Procedure of Registration Process of Charitable Trusts

Income Tax : It has been recommended by the Hon'ble Public Accounts Committee that the process of the Registration Process of Charitable Trusts...

December 14, 2018 3339 Views 0 comment Print


RBI Guideline for Internal Audit of Banks

December 11, 2023 2157 Views 0 comment Print

Discover what RBI Guideline for Internal Audit of Banks is and why organisations rely on it. Internal audit provides assurance on the effectiveness of internal controls and risk management processes for the bank’s system of governance. Know more!

CA Firms Engagement in PSBs: Recent Changes and Trends

December 5, 2023 1242 Views 0 comment Print

Discover the latest developments in the engagement of CA firms by PSBs. Explore changes in concurrent audit policies, RBI directives, and the number of firms involved over the past 3 years

Non-appointment of Internal Auditor (Section 138(1): MCA Imposes Penalty

November 9, 2023 21990 Views 0 comment Print

MCA imposed penalties on Muthootu Mini Nidhi Limited for non-compliance with provisions of Section 138 of Companies Act, 2013. Penalties are a result of company’s failure to appoint an internal auditor

Internal Audit Requirements for Companies in India: A Comprehensive Guide

October 21, 2023 3873 Views 0 comment Print

Introduction Navigating the intricacies of internal auditor compliance in the Indian Companies Act is crucial for businesses. Today, I want to shed light on the intricate requirements for appointing internal auditors in Indian companies. In this simplified guide, we’ll address key questions surrounding the appointment of internal auditors, ensuring clarity and understanding. Understanding the Basics Companies […]

Risk Based Internal Audit-Cargo Handling Company

September 19, 2023 840 Views 0 comment Print

Elevate cargo handling operations with a Risk-Based Internal Audit. Our step-by-step guide covers establishing objectives, assembling a skilled audit team, risk assessment, detailed planning, data collection, rigorous testing, comprehensive analysis, findings and recommendations, collaborative management reviews, continuous monitoring, and reporting. Enhance safety, compliance, and efficiency while minimizing risks. A robust internal audit process is crucial for a cargo handling company to meet industry standards, regulatory requirements, and ensure ongoing improvement.

Allow company Secretaries to do Internal Audit of Companies under Section 138: ICSI

September 8, 2023 33522 Views 1 comment Print

Proposed amendments to Section 138 of Companies Act, 2013 by ICSI. Understand why Company Secretaries are equipped to conduct internal audits.

Objectives and Scope of Internal Audit: Key Insights

September 6, 2023 4272 Views 0 comment Print

Objectives & detailed scope of internal audit, including areas like cash management, procurement, compliance, and more. Learn how it enhances organizational integrity and efficiency.

Risk-Based Internal Audit: A Detailed Examination

August 29, 2023 1719 Views 0 comment Print

Dive into the comprehensive analysis of risk-based internal auditing, its steps, benefits, and how it aligns with organizational strategies.

Vital Role of Internal Audit for SMEs: Ensuring Efficiency, Compliance, and Growth

June 23, 2023 747 Views 0 comment Print

In today’s rapidly changing business landscape, small and medium-sized enterprises (SMEs) face numerous challenges, including limited resources, regulatory requirements, and operational risks. To effectively manage these challenges and drive sustainable growth, SMEs must prioritize internal audit.

Importance of Internal Audit in Organizational Governance

June 21, 2023 816 Views 0 comment Print

Internal audit is a critical function within organizations that helps ensure effective governance, risk management, and control processes. By providing independent and objective assessments, internal audit plays a vital role in enhancing transparency, accountability, and overall organizational performance.

Search Post by Date
May 2024
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031