Internal Audit
Independent internal audit of processes, controls and compliance — risk-focused reviews with findings and action plans for management.
- Estimate Cost
- ₹25,000 – ₹2,00,000
- Typical duration
- 15 days
Service overview
Evaluating internal controls, risk management, and governance processes to ensure operational efficiency.
Who needs it? / When is it needed?
Businesses looking to strengthen internal controls, prevent leakage, and improve process efficiency.
What to expect from the WCP Professionals
Internal control testing, process walkthroughs, and operational efficiency analysis.
Key deliverables
Internal audit report, control deficiency memo, and improvement recommendations.
Standard turnaround time
10 to 15 working days.
Government fees, timelines & key outcomes
No government fee.
Internal audit is mandatory under Section 138 of the Companies Act, 2013 for listed companies and for specified unlisted public and private companies crossing turnover, borrowing or deposit thresholds; the board appoints the internal auditor.
Key outcomes: stronger controls, fewer leakages and a documented action plan for the audit committee or board.
Forms & filings involved
Internal audit charter, control matrices, and review working papers.
Documents required
SOPs, previous audit reports, process manuals, and financial transactions.
What we need from you
Process owners' time, documentation access, and management clarifications.
Important conditions
Subject to cooperation from department heads and availability of process documents.
Additional information
Helps in early detection of process loopholes and continuous business improvement.
The estimated cost covers indicative professional fees only. Government fees, stamp duty and taxes are payable at actuals.
How it works
- 1. Raise a service enquiry describing your requirement.
- 2. A Relationship Manager reviews it and opens it for bidding.
- 3. Pay into escrow and assign the professional you select.
- 4. Track progress to completion, then accept and release payment.
Frequently asked questions
Which companies must have an internal auditor?
Listed companies, and unlisted public and private companies crossing prescribed turnover, borrowing or deposit thresholds under Section 138.
Who can be the internal auditor?
A Chartered Accountant, Cost Accountant or other professional decided by the board, who may be an employee or an external firm.
How often is internal audit done?
Usually quarterly or half-yearly, following an annual plan approved by the audit committee or board.
Is internal audit the same as statutory audit?
No. Internal audit reviews processes and controls for management; statutory audit gives an opinion on the financial statements.