info@kanumuriandco.in

+91-9951551985


	Home About Us Mission, Vision & Values About Why Choose Us Our Team Services test Others Query Articles/Blogs Gallery Knowledge Bank Calculators GST Calculator Tax Calculator TDS Calculator Calculate Net Profit Calculate Net Worth Effective Capital HRA NSC EMI Auto Loan Calculator Home Loan Calculator Get No. Of Installment RERA Calculator Developers Calculator Home Buyer Delay Interest Home Buyer Refund Bulletins RBI SEBI Notification Circular Income Tax Service Tax Central Sales Tax Excise Matters Customs Company Law Labour Laws FEMA The LLP Act 2008 Accounting Standard (INDAS) Others GST VAT Delhi VAT Maharastra VAT Gujarat VAT Telangana VAT Tamil Nadu VAT IGST UTGST Compensation Cess IBC Regulation Utilities Rates of TDS TDS Rates for N.R.I us 195 Rates of Income Tax Depreciation Rates Companies Act Depreciation Rates Income Tax Act ROC Filing Fees (Cos Act, 2013) ROC Fee Structure (Cos Act, 2013) Cost Inflation Index IFSC Codes MICR Codes Rates of NSC Interest Gold and Silver Rates Rates of Stamp Duty LLP Fees National Industries Classification HSN Rate List Deduction u/s 80TTA Vs 80TTB Links Quick Links Important Links GST/VAT Links Ease Of Doing Business Acts Direct Tax Income Tax Act Wealth Tax Act Income Declaration Scheme 2016 Indirect Tax Service Tax(Finance Act, 1994) Central Sales Tax Act, 1956 The Central Excise Act, 1944 Customs Act, 1962 Entry Tax Act Corporate Laws Companies Act, 2013 Companies Act, 1956 LLP ACT SEBI Act, 1992 VAT Laws Delhi Value Added Tax Act, 2004 MVAT Act, 2002 West Bengal VAT Act, 2003 Tamilnadu VAT ACT, 2006 Karnataka Value Added Tax Act, 2003 Gujarat Value Added Tax Act, 2003 UP VAT Act, 2008 Rajasthan Value Added Tax Act, 2003 Punjab Value Added Tax Act Haryana Value Added Tax Act Telangana VAT Act 2005 Andhra Pradesh VAT Act, 2005 Bihar Value Added Tax Act, 2005 Other Statutes ESI Act, 1948 PF Act, 1952 Profession Tax Act The Indian Partnership Act, 1932 Societies Registration Act, 1860 Competition Act, 2002 Reserve Bank of India Act, 1934 MRTP Act, 1969 Equalisation Levy Act, 2016 Right To Information Act, 2005 FEMA, 1999 Maharashtra RERA RERA, 2016 Insolvency & Bankruptcy Code, 2016 Benami Property Act 1988 GST Laws IGST Act , 2017 CGST Tax Act, 2017 UTGST Act, 2017 GST (Compensation to States) Act Rules Direct Tax Rules Income Tax Rules Wealth Tax Rules 1957 Income Declaration Scheme Rules 2016 Indirect Tax Rules GST Valuation Rules , 2016 Service Tax Rules CST (Delhi) Rules, 2005 CST (Maharashtra) Rules Customs Valuation Rules Cenvat Credit Rules, 2017 Entry Tax Rules Corporate Laws Rules Companies Rules, 2014 LLP Rules, 2009 LLP Winding up Rules, 2012 Cos Unpaid Dividend Rules, 1978 VAT Laws Rules Delhi VAT Rules, 2005 Maharashtra VAT Rules, 2005 West Bengal VAT Rules, 2005 Tamilnadu VAT Rules, 2007 Karnataka VAT Rules, 2005 Gujarat VAT Rules, 2006 Uttar Pradesh VAT Rules, 2008 Rajasthan VAT Rules, 2006 Punjab VAT Rules Haryana VAT Rules, 2003 Telangana VAT Rules 2005 Andhra Pradesh VAT Rules, 2005 Bihar Value Added Tax Rules, 2005 Other Statutes Profession Tax Rules NBFC Deposits Directions, 1998 NBFC & Misc NBC (Advt) Rules, 1977 NBFC Auditor Report Directions, 2008 Delhi Labour Welfare Fund Rules, 1997 Cost records and audit Rules, 2014 Baggage Rules, 2016 Equalisation Levy Rules, 2016 NCLT And NCLAT Rules Insolvency & Bankruptcy Rules Benami Property Rules, 2016 GST Rules CGST Rules, 2017 IGST Rules 2017 Forms Income Tax Forms ROC Forms (Cos Act, 2013) ROC Forms (Cos Act, 1956) Income Declaration Forms Wealth Tax Forms Service Tax Forms Companies Unpaid Dividend Forms NBFCs Forms LLP Winding up FEMA Forms LLP Forms CGST Forms GST Forms Accounts and Records Advance Ruling Appeals and Revision Assessment and Audit Composition Demands and Recovery Input Tax Credit Inspection, Search and Seizure Offences and Penalties Payment of Tax Refund Registration Returns Transitional Provisions Value of Supply Careers Admin Login Email Login Time Sheet Contact Us

Audit and Assurance

Internal Audit

Unlocking Organizational Excellence: The Role of Internal Audit

Internal Audit is more than just a process - it's a cornerstone of organizational excellence. As a trusted partner in your journey towards operational efficiency and regulatory compliance, we offer a meticulous and insightful approach to Internal Audit.

Understanding Internal Audit:

Internal Audit is the cornerstone of sound corporate governance. It's a systematic, independent, and objective evaluation of an organization's operations, internal controls, and risk management processes. At Kanumuri & Co, we go beyond mere compliance; we empower your organization to thrive by identifying inefficiencies, mitigating risks, and enhancing operational effectiveness.

Why Internal Audit Matters:

Internal Audit serves as a critical safeguard, ensuring that your organization operates with integrity, transparency, and efficiency. Here's why it matters:

Risk Management: Identify and mitigate potential risks to safeguard organizational assets and reputation.
Operational Efficiency: Streamline processes, enhance productivity, and optimize resource utilization.
Compliance Assurance: Ensure adherence to regulatory requirements, accounting standards, and internal policies.
Fraud Prevention: Detect and prevent fraudulent activities through robust internal controls and monitoring mechanisms.
Strategic Insights: Provide actionable insights and recommendations to senior management for informed decision-making.

Applicability and Compliance:

Internal Audit plays a crucial role in ensuring organizational integrity and efficiency. However, it's essential to understand the specific limits regarding its applicability to different types of entities.

1. Companies Act, 2013: Under the Companies Act, 2013, certain organizations are mandated to conduct Internal Audit based on specific thresholds. These thresholds include:

Share Capital: Companies with a share capital of INR 50 crores and above.
Turnover: Entities with a turnover of INR 200 crores or more.
Loans and Borrowings: Organizations with loans and borrowings exceeding INR 100 crores.
Deposits: Entities with outstanding deposits of INR 25 crores or more.

It's important to note that these thresholds may vary based on regulatory updates and amendments to the Companies Act.

2. Other Regulatory Requirements: Apart from the Companies Act, certain industries and sectors may have additional regulatory requirements mandating Internal Audit. For example:

Banking and Financial Institutions: The Reserve Bank of India (RBI) may require banks and financial institutions to conduct Internal Audit as per its guidelines.
Insurance Sector: Insurance Regulatory and Development Authority of India (IRDAI) may impose specific Internal Audit requirements on insurance companies.
Listed Companies: Securities and Exchange Board of India (SEBI) mandates Internal Audit for listed companies to ensure compliance with listing regulations.

3. Organizational Policies:
In addition to statutory requirements, organizations may choose to conduct Internal Audit based on their internal policies and risk management frameworks. Even if not mandated by law, Internal Audit can be a proactive measure to enhance governance, risk management, and compliance (GRC) practices within the organization.

Our Service Offerings:

At Kanumuri & Co, we offer a comprehensive suite of Internal Audit services designed to fortify your organization's resilience and operational efficiency:

Internal Controls Review: Evaluate the effectiveness of internal controls to mitigate risks and safeguard assets.
Risk Assessment and Consulting: Identify and assess organizational risks, and provide strategic recommendations to mitigate them.
Policy Drafting: Develop robust policies and procedures to ensure compliance and streamline operations.
Operational Audits: Conduct in-depth audits of operational processes to identify inefficiencies and areas for improvement.
Enterprise Risk Advisory: Provide strategic insights and recommendations to senior management on enterprise-level risks and opportunities.

At Kanumuri & Co, we specialize in helping organizations navigate the complexities of Internal Audit, ensuring compliance with statutory requirements and industry best practices. Contact us today to learn more about our tailored Internal Audit services and how we can support your organization's success.

10275 Times Visited