Internal Audit, as defined by the Companies Act 2013 (Section 138), is an independent and objective assurance activity designed to add value and improve an organization’s operations. It helps accomplish organizational objectives by evaluating and improving the effectiveness of risk management, control, and governance processes. Internal auditors provide insights, recommendations, and assurance to management and the board of directors.
Reference: Companies Act 2013, Section 138
Internal Audit assists companies in achieving efficiency, compliance, and accountability by systematically examining processes, identifying areas for improvement, and ensuring alignment with regulatory requirements and best practices.
