Internal Audit
Internal audit is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps in identifying any weakness in internal controls, operational efficiency or regulatory compliance.
It primarily focuses on reviewing the existing control system and related procedures of the organization which are assessed through compliance testing techniques for evaluating its effectiveness.
The scope of the internal audit is at the discretion of the management. Internal Auditor's function includes supervising, evaluating, investigating, and analysing the existing risks & controls; checking and ensuring the information and compliance with policies, procedures and laws.
Our Experts will communicate with clients throughout the audit process to address significant issues, reduce the risk of fraud, and ensure that deadlines for submission are met.
Due Diligence
Due diligence is a process or effort to collect and analyse information before making a decision or conducting a transaction so a party is not held legally liable for any loss or damage.
Due Diligence in mergers and acquisitions is the process of evaluating and investigating a prospective business decision by getting information about the financial, legal, intellectual and other material information from the other party. The ultimate goal of such activities is to make sure that there are no hidden drawbacks or traps associated with the business transaction under consideration. By performing due diligence, a perfect strategy can be evolved to carry out the merger or acquisition.
Mergers and acquisitions revolve around certain specific steps and due diligence is the first step to make the end business successful.
Due diligence helps in understanding the following about the company:
- Capital structure including shareholding pattern
- Composition of board of directors
- Shareholders' agreement or restrictions on the shares, for example, on voting rights or the right to transfer the shares
- Level of indebtedness
- Whether any of its assets have been offered as security for raising any debt
- Any significant contracts executed by it
- The status of any statutory approvals, consents or filings with statutory authorities
- Employee details
- Significant litigation, show cause notices and so on relating to the target and/or its areas of business
- Intellectual property of the company
- Any other liability, existing or potential.
Operational Audit
It is the process of evaluating a company's operating activities - both on a day-to-day level and a broader scale with the objective of pointing out improvements that will increase its efficiency and effectiveness.It requires analyzing the processes, procedures and systems used within the company. This is substantially different from other types of audits which look solely at a single department or the company's finances, an operational audit delves deeper. It serves as a detailed look at all of the internal departments and processes that make up a business's operations.
Operational Audit can help businesses in identifying potential growth areas, improving business efficiency, provides motivation to maximize the productivity and it also points out risks and opportunities. It will help the management to take corrective actions.
Our experts will devise a well-designed audit plan best suitable to the organization's objectives and the goals it desires to achieve through this audit and work through it to provide the best-class service.