Internal Auditing

Bharat's Internal Auditing by CA. Kamal Garg is a comprehensive and practice-oriented guide that covers all essential aspects of internal audit in the context of modern corporate governance and risk management. This updated edition offers a focused treatment of Internal Financial Controls (IFC) over Financial Reporting as mandated under Section 143(3)(i) of the Companies Act, 2013.

Designed for professionals, audit practitioners, and students alike, the book combines regulatory guidance with practical tools and illustrative examples to aid effective audit execution and compliance.

Key Features:

• Detailed analysis and practical guidance on IFC reporting requirements under Section 143(3)(i) of the Companies Act, 2013.
• Covers frameworks for risk identification, evaluation, and mitigation within internal audit processes.
• Explores the synergy between internal audit functions and corporate governance best practices.
• Includes practical audit checklists, internal control questionnaires, and templates for structuring audit reports.
• Sample audit programs for various functional areas and processes to facilitate hands-on implementation.

This book is ideal for Chartered Accountants, audit professionals, internal auditors, risk managers, CFOs, compliance officers, and students pursuing CA, CS, CMA, or an MBA in Finance.

Chapter 1        Auditing — Nature and Basic Concepts
Chapter 2        Internal Audit under Companies Act, 2013
Chapter 3        Preparation for an Audit
Chapter 4        Internal Control
Chapter 5        Audit in CIS Environment
Chapter 6        Risk and Enterprise Risk Management (ERM) — An Introduction
Chapter 7        Establishing Risk Strategy
Chapter 8        Undertaking Risk Assessments
Chapter 9        Engagement Letter
Chapter 10      Internal Audit and Companies (Auditor’s Report) Order, 2020
Chapter 11      Internal Audit and Corporate Governance
Chapter 12      Internal Control Questionnaire
Chapter 13      Internal Control Assessment Audit Questionnaire
Chapter 14      Risk Control Matrix
Chapter 15      Risk-Based Internal Auditing: A Comprehensive Guide to Risk Control Matrices
Chapter 16      Internal Audit Checklists
Chapter 17      Internal Audit Report
Chapter 18      Management and Operational Audit
Chapter 19      Investigations
Chapter 20      Other Aspects in Internal Audit - Audit Risk Model and Business Control Sheet
Chapter 21      Guidance Notes on Auditing Aspects
Chapter 22      ICAI Guidance Note on Internal Financial Controls over Financial Reporting
Chapter 23      Gist of Accounting Standards
Chapter 24      Code of Ethics
Chapter 25      Miscellaneous Internal Audits
Chapter 26      Illustrative Audit Programmes
Chapter 27    Appendices