Internal Audit refers to an independent service to evaluate an organisation’s internal controls, its corporate practices, processes, and methods. The purpose of an internal audit is to check the effectiveness and operational standards framed by an organisation. An organisation may have a set of rules for operations, such as placing orders, accepting deliveries, and making payments. An internal audit helps in identifying problems or inefficiencies and taking necessary corrective steps. 

 

At Outsource Onwards, we also assist the audit firms in performing their internal audit procedures. Our services mainly include:

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• Assisting the organization in performing of the walkthrough of the processes  setting narratives and reporting on the internal control procedures.

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•  Evaluation of clients’/ organization’s internal controls, its corporate practices, processes, and methods.

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• Assistance in physical examination and verification of stock, tangible assets of clients in India or outside locations.

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• Assistance to management team in helping understand and develop workable internal controls that enhance the client’s control environment.

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• Assistance & performing controls testing in understanding the core operational risks, & other associated risks.

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• Review of the internal audit checklist provided by the head office of the client.