Internal Audit Services
Strengthen Controls. Minimize Risk. Improve Business Efficiency.
At Korpfintax, we offer comprehensive Internal Audit Services designed to enhance operational efficiency, reduce risk, and ensure regulatory compliance. Our audit process is tailored to deliver value beyond just checks and balances, helping businesses make informed decisions and drive sustainable growth.

What is an Internal Audit?
An Internal Audit is an independent evaluation of a company’s internal controls, risk management processes, and governance systems. Unlike statutory audits, internal audits are not legally mandatory for all, but they are a strategic tool for business improvement.
Internal audits help management assess the effectiveness of business processes, safeguard assets, detect fraud, and ensure operational excellence.

Applicability of Internal Audit
Under Section 138 of the Companies Act, 2013, internal audit is mandatory for:
✅ Listed Companies
✅ Unlisted Public Companies, if:
• Turnover ≥ ₹200 crore, or
• Outstanding loans/deposits ≥ ₹100 crore
✅ Private Companies, if:
• Turnover ≥ ₹200 crore, or
• Outstanding loans/deposits ≥ ₹100 crore
🔹 Voluntary internal audits are increasingly adopted by:
• Growing SMEs and startups
• Family-owned businesses
• Firms preparing for external funding or due diligence

Our Internal Audit Services Include:
• Review of Internal Controls & SOP Compliance
• Audit of Key Business Functions (Sales, Procurement, HR, Finance)
• Compliance Checks (GST, TDS, Income Tax, Labour Laws)
• Operational Audit for Cost Optimization
• Fraud Detection & Prevention Mechanisms
• Risk-Based Internal Audit Reports with Recommendations

Benefits of Internal Audit by Korpfintax
• Ensures legal & regulatory compliance
• Strengthens internal control systems
• Identifies cost-saving opportunities
• Enables data-driven decision-making
• Promotes good corporate governance
• Provides early warning signals for potential risks

Our Internal Audit Process
1. Understanding Your Business & Objectives
2. Risk Assessment & Audit Planning
3. Process Review & Internal Control Evaluation
4. Detailed Audit Execution & Testing
5. Insightful Reporting & Actionable Recommendations
6. Follow-Up on Corrective Actions

Why Choose Korpfintax?
• Expert Team of Chartered Accountants & Audit Professionals
• Industry-Specific Audit Experience
• Timely Delivery & Structured Reporting
• 100% Confidentiality & Professional Ethics
• Scalable Solutions for SMEs, Corporates & Startups