Internal Audit

Role & responsibilities

GM Internal Audit

Role Purpose

To provide independent and objective assurance to the Chairman and senior leadership on the

effectiveness of internal controls, risk management, and governance processes across all

verticals of the Group. The Head of Internal Audit acts as the guardian of financial discipline,

process integrity, and compliance, ensuring that PS Group operates efficiently, ethically, and

with minimal risk exposure.

Key Responsibilities

1. Governance and Planning

• Develop and execute a risk-based annual internal audit plan, aligned with the Groups business

priorities.

• Review critical business functions such as finance, construction, procurement, sales, post-sales,

HR, and IT systems.

• Present the annual plan and quarterly updates directly to the Chairman.

2. Internal Audit Execution

• Conduct operational, financial, and compliance audits to assess control adequacy and process

efficiency.

- Identify control weaknesses, irregularities, or inefficiencies; recommend pragmatic corrective

actions.

• Lead special audits or investigations in cases of suspected fraud, leakage, or non-compliance.

• Ensure that management implements corrective actions within defined timelines.

3. Financial & Operational Oversight

• Verify accuracy and integrity of financial reporting, project cost tracking, and vendor

payments.

• Review controls around budget approvals, project cash flows, and procurement processes.

• Audit customer receivables, collections, and credit policies for robustness and risk exposure.

4. Risk & Compliance Coordination

• Work closely with the Chief Risk Officer (CRO) to align audit priorities with top enterprise

risks.

• Ensure statutory and regulatory compliance under Companies Act, RERA, GST, and income tax

laws.

• Recommend process automation or policy updates to strengthen risk management.

5. Reporting & Communication

- Submit quarterly audit reports and executive summaries to the Chairman, highlighting:

  - Key observations and risk areas

  - Root causes and control gaps

  - Action plans and follow-up status

- Maintain professional independence and ensure confidentiality of all findings.

6. Team & Vendor Management

• Build and manage a lean internal audit team with domain specialists.

• Coordinate with external audit firms for co-sourced audits (e.g., IT, construction quality, tax).

• Provide training and promote a culture of accountability and control awareness across

departments.