Internal Audit Services in Ahmedabad

Table of Content

Introduction to Internal Audit Services
Documents Required for Internal Audit
Process of Internal Audit
Why Choose H S Lalwani & Co.?
Google Reviews
Frequently Asked Questions (FAQs)

1. Introduction to Internal
Audit Services

Internal audits are an essential mechanism for organizations to evaluate and improve the effectiveness of their governance, risk management, and internal controls. This service involves a systematic review of operations, ensuring that policies, procedures, and compliance standards are adhered to.

At H S Lalwani & Co., we specialize in offering tailored internal audit services that help businesses enhance operational efficiency, mitigate risks, and maintain compliance with industry regulations. Our experienced auditors work collaboratively with your management team to identify inefficiencies, uncover potential risks, and implement actionable solutions.

2. Documents Required for Internal Audit

General Requirements:

Organizational chart and operational workflow.
Financial records (profit & loss statements, balance sheets).
Internal policies and procedure manuals.
Previous internal or external audit reports.
Inventory and asset management records.

Specific Requirements (if applicable):

Payroll and employee benefit records.
IT systems and security protocols.
Documentation of key business processes.
Records of major transactions and approvals.
Details of loans, advances, and investments.

3. Process of Internal Audit

Initial Planning and Scoping:Understanding the client's objectives, key risks, and regulatory requirements.
Data Collection and Analysis:Gathering and reviewing relevant documents and records.
Risk Assessment:Identifying high-risk areas and evaluating their impact on the organization.
Execution of Audit Procedures:Conducting tests and reviews of financial and operational processes.
Reporting and Recommendations:Documenting findings and suggesting actionable improvements.
Follow-Up:Ensuring implementation of recommended improvements.

4. Why Choose H S Lalwani & Co.?

Expertise You Can Trust:Decades of experience in providing comprehensive internal audit services across diverse industries.
Tailored Solutions:We understand that every organization is unique and deliver customized audits to meet specific needs.
Value-Driven Approach:Our audits not only ensure compliance but also add value by identifying cost-saving opportunities and efficiency enhancements.
Confidential and Independent:Our team ensures the utmost confidentiality and provides an unbiased assessment of your operations.
Timely Delivery:We adhere to strict timelines, ensuring your business continues operating seamlessly.

What Our Clients Say

Shradha Makhiia

★★★★★

Hitesh's work is outstanding. He and his team are so helpful and attentive. They always respond with the best solutions. And they are also extraordinarily good at teaching you a bit of stuff. Best for financial solutions. Highly recommend.

Krishna Gidvani

★★★★★

I've been working with HS Lalwani &Co. for over 3 years now, and I'm thoroughly impressed with their professionalism and expertise. They handle everything from tax planning and GST compliance to audits and business advisory services with remarkable attention to detail.

Pushkar Shukla

★★★★★

Excellent experience for all my GST registration and Financial guidance. I received complete support for all my GST registration process without visiting his office or any hard copy requirement. Must recommend for all young entrepreneur out there like me.!! Keep the explicit service!

Frequently Asked Questions (FAQs)

Internal audits help assess and improve the effectiveness of risk management, control, and governance processes within an organization.

Organizations of all sizes, including SMEs and large corporations, benefit from regular internal audits to ensure operational efficiency and compliance.

Internal audits focus on improving internal processes and risk management, while statutory audits ensure compliance with legal and financial reporting standards.

The frequency depends on the organization's size, complexity, and risk profile but is typically conducted annually or semi-annually.

Internal audits cover financial processes, operational controls, compliance, IT security, risk management, and asset management.

We follow strict confidentiality protocols to safeguard all sensitive information shared with us during the audit process.

We serve clients across industries, including manufacturing, retail, IT, healthcare, and financial services.

Outsourcing ensures an unbiased evaluation, access to expert knowledge, and cost-effectiveness compared to maintaining an in-house team.

Yes, internal audits often uncover discrepancies and irregularities that may indicate fraud or other issues.

The duration varies based on the organization's complexity but generally ranges from a few weeks to a couple of months.

Our Other Services

Statutory Audit Services

Statutory audits are a mandatory requirement for companies to ensure compliance with applicable laws and regulations.

Tax Audit Services

A tax audit is an essential process mandated under Section 44AB of the Income Tax Act, 1961, for businesses and professionals exceeding specified turnover thresholds.