Avail Best Audit Results for Your Business
Internal Audit Company as Your Best Financial Support System
Internal Audit is an independent examination and evaluation of the internal records of the company to identify if there is any material fraud or misstatement in the financial statements.Internal Audit Company gives you assurance and confidence on if everything in your organisation is going right or not.
They are usually conducted on a periodic basis such as monthly, quarterly, etc. More the frequency of the Internal Audit, the better the results.
Take our Preliminary assessment quiz to know if your business requires a financial audit?
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I know how much profit I make every month accurately.
That’s good news! PKC Tax Advisory provides you with an overview of all your assets and liabilities along with your net worthNO YES -
I get accurate data on receivables payables whenever I ask.
Great work! Get detailed customized reports and forecasts with PKC Tax Advisory to manage your taxes & financeNO YES -
I never paid interest or penalty due to statutory non-compliance.
Excellent! With PKC Tax Advisory you can understand why you’re paying what you’re paying and properly plan IT/GSTNO YES -
My accounts are up to date. Each entry is recorded immediately and accurately.
Great to have that access! PKC Tax Advisory ensures complete hand holding with communication on top priorityNO YES -
I know my cash flow and getting insights from my accounts team on how to improve it.
Great to have that access! PKC Tax Advisory ensures complete hand holding with communication on top priorityNO YES -
I get sufficient reports to grow my business.
Excellent! With PKC Tax Advisory you can understand why you’re paying what you’re paying and properly plan IT/GSTNO YES
If your score is below 3, You should immediately get Financial Audit Company services.
Benefits to Choose PKC’s Internal Audit Service in Chennai
100% Statutory and Legal Compliances
Zero frauds & Pilferage loss
Improve your processes & systems
Up-to-date accounts with zero errors
Grow your business with our MIS
PKC is a unique Internal Audit firm in Chennai
Expertise in Finance and Operations to enable maximum growth
Expertise across industries
Tech-enabled Audit
Dedicated Knowledge & Research team & Super Saturday programs
We work with 30+ ERP and 10+ Acc packages
Personalized Attention
Auditors for Mid-sized companies – Financial Audit Chennai
Achievements of PKC’s Internal Audit Chennai
- Helped 50+ clients to save taxes, penalty or interest of ~10+ lakhs per client for the last year.
- Complete hand-holding of finance operations helped a client to focus on core business activities which in turn led to the opening of 3 new stores & increased turnovers from 80 to 225 crores
- 100% rectification of accounting errors led to zero observations during VC financial due diligence & helped to raise $50 million
- Periodical MIS reports & cost-saving recommendations resulted in a reduction of expenditure ~50 million for a retail giant
- Continuous review engagement helped a retailer to improve the stock turnover ratio by 100%
- The audit team helped a client to identify & account for an amount of Rs 50+ lakh unaccounted expenses on the accounting software.
Our Internal Audit Coverage
Business Growth
> Financial MIS reports
- Income & expense analysis – trend, abnormal, etc.
- Debtor Aging & Creditor Aging
- Cash flow analysis
- Recommending controls to mitigate revenue leakages/non-value-added cost
- Excess Payments made to vendors
- Other cash flow-related issues like excess OD Interest charges, etc,..
- Other financial reports are relevant to the company.
> Operational MIS reports
- Inventory turnover analysis
- BCG / Growth-Share Matrix Analysis
- Pareto Analysis
- Product Sales Analysis
- Lead time Analysis
- Production Efficiency Analysis
- Other Operational reports are relevant to the company.
- Recommendations to improve processes & systems of the company
> Statutory Compliances
- GST compliances
- TDS/TCS compliances
- EPF/ESI compliances
- FEMA/RBI Compliances
- Compliances under Income Tax act
- Recommendations to improve the compliance score across statutory acts mentioned above.
- Recommendations to avail statutory benefits applicable to the Organisation
- Rectification status of previous month’s material non-compliances
- Reporting of chronic non-compliances
> Financial Records Accuracy
- Major Accounting mistakes
- Improvements in accounting methodology
- The suggestion of accounting policies
- Huge deviations/errors in computations like revenue accounting, etc.
- Verification of Cash & Bank Transactions
- Debtors & creditors transaction verification
- Vouching
- Ensuring books are maintained on an accrual basis
- Ensuring books are up to date
- Analytical procedures to identify clerical errors if any.
Frequently Asked Questions
1.How much does it cost?
We have a standard man-day pricing for our services. Depending on the size of the business & scope of work, we estimate the number of days and number of team members required on-site to successfully complete the audit, based on which we share a quotation. 90% of our clients gained 10 times ROI on the investment (professional fee) made for the audit services.
2.Can I opt for PKC India Internal Audit Firm without shifting my Statutory Auditor?
Yes. You need not change your statutory auditor. We work independently to provide our audit services.
3.How long does it take to complete the Audit by the PKC?
Time for complete auditing depends upon the size of the company and also on the quality of its booking keeping & financial procedures. On average, Audit involves 2-3 days on-site and 1-2 days offsite
4.What should be the frequency of these audits for my business?
We recommend you to take a monthly audit initially for half a year or year. As the audit progresses, we streamline your accounts and financial operations, post which you can consider increasing the frequency to quarterly.
