Management Auditing

Internal Audit Services in India 

Tax Robo provides Internal Audit Services in India including Internal Management Audit and Operational Audits in India.


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Internal Audit Process 


Internal audit involves activities related with verification of internal processes such as accounting, allocation of responsibilities and execution of duties in a proper manner.

It also assists in avoiding risks such as fraud or uncertainties by promoting transparency.

It must be performed by an experienced accountant or an auditor. Usually managers are responsible for the financial statements hence they must submit their logs to an expert auditor for verification and elimination of discrepancies. It also helps in discovering any possible loop holes or ways in which a smooth functioning can be hampered.

Steps to Performing an Internal Audit

  • Identify Areas that Need Auditing
  • Determine How Often Auditing Needs to be Done
  • Create An Audit Calendar
  • Alert Departments of Scheduled Audits
  • Be Prepared
  • Discussions with department personal
  • Document Results
  • Report Findings

Let Tax Robo be your Auditor for internal functions. We'll sieve through your managerial operations with a keen eye and report any faults at the earliest.

Scope of Audit Services 

Internal Controls 

Internal Controls Are Designed To Provide Reasonable Assurance Regarding The Achievement Of Objectives In The Following Categories:

  Reliability and integrity of Financial Products and operational information.

  Effectiveness and efficiency of operations and programs.

  Safeguarding of assets.

  Compliance with laws, regulations, policies, procedures, and contracts.

Internal Audit Assists The Company In Maintaining Effective Controls By Evaluating Their Effectiveness And Efficiency And By Promoting Continuous Improvement As Part of Our Internal Auditing And Consulting Activity.

Finance and Accounts Controls  

  Test Of Controls – Internal Controls

  Cash & Bank Payments & Receipts

  Bank Reconciliation Statements

  Travel & Advances Verification​

  Transporters Bills Verification

  Suppliers Payment Verification

  Deposits & Interest Accounting

  Loan Accounting & Repayments

  Custody of Physical Cash Surprise Verification

  Sales Invoice Accounting and income recognition

  Documentations / Filings

How it Works 

Stage 1

You fill out the inquiry form.

The client relations team calls or emails you.

Stage 2


Understanding of requirements.
Ballpark estimate (if possible).
Proposal (if required).
Approval to go ahead.

Stage 3


Confirm pricing
Contracting & SLA sign-off

Stage 4  


Resource deployment & training Project kick-off meeting

Stage 5


Project execution & management

On-going reporting & feedback

Stage 6


Work delivery to the client

Client feedback and review

Compliances of Statutes

  • TDS Compliances
  • Services Tax Compliances
  • PF & ESI Compliances
  • Professional Tax Compliances
  • Income Tax Compliances
  • Others Statutory Compliances

Fixed Asset Controls

  • Fixed Asset Accounting
  • Fixed Asset register Maintenance – with Location
  • Asset Deletion Accounting & Recognition
  • Insurance details for Fixed Asset



Analysis of Various general Ledger Transactions and Balances

  • Setup a Internal Controls Systems for smoothening the functions
  • MIS Reports for Managements
  • Collections and Follow-ups in Excel data Sheet
  • Budgetary Controls
  • Documents Maintenance Controls and Supports

Tax Robo Team and Process

  • Surprise Verification
  • Associated Firms In Tamilnadu
  • Strength Is Our Branches

Various Internal Controls


Preventive Controls

Segregation Of Duties: Duties Are Segregated Among Different People To Reduce The Risk Of Error Or Inappropriate Action. Normally, Responsibilities For Authorizing Transactions (Approval), Recording Transactions (Accounting) And Handling The Related Asset (Custody) Are Divided.

Approvals, Authorizations, And Verifications: Management Authorizes Employees To Perform Certain Activities And To Execute Certain Transactions Within Limited Parameters. In Addition, Management Specifies Those Activities Or Transactions That Need Supervisory Approval Before They Are Performed Or Executed By Employees. A Supervisor's Approval (Manual Or Electronic) Implies That He Or She Has Verified And Validated That The Activity Or Transaction Conforms To Established Policies And Procedures.

Security Of Assets (Preventive And Detective): Access To Equipment, Inventories, Securities, Cash And Other Assets Is Restricted. Assets Are Periodically Counted And Compared To Amounts Shown On Control Records.

Detective Controls

Detective Controls Are Designed To Find Errors Or Irregularities After They Have Occurred. Examples Of Detective Controls Are:

  • Reviews of Performance: Management compares information about current performance to budgets, forecasts, prior periods, or other benchmarks to measure the extent to which goals and objectives are being achieved and to identify unexpected results or unusual conditions that require follow-up.
  • Reconciliations: An employee relates different sets of data to one another, identifies and investigates differences, and takes corrective action, when necessary.
  • Physical Inventories
  • Audits