Internal Auditor

Role & responsibilities

Key Responsibilities

1. Fixed Asset Register (FAR) Review

• Verify the completeness and accuracy of the Fixed Asset Register.
• Conduct physical verification of fixed assets and reconcile with FAR records.
• Check capitalization, asset tagging, transfers, disposals, and depreciation practices.
• Identify untagged, idle, obsolete, or missing assets.
• Ensure compliance with company policy and applicable accounting standards.

2. SOP & Process Audits

• Review SOPs across departments for adequacy and effectiveness.
• Verify whether departmental activities are being performed as per approved SOPs.
• Identify process gaps, control weaknesses, and non-compliance issues.
• Recommend process improvements and control enhancements.
• Monitor implementation of corrective actions.

3. Internal Control Review

• Assess the effectiveness of internal controls across Finance, Purchase, Stores, Sales, HR, and Operations.
• Test key controls and document audit observations.
• Review approval matrices, authority limits, and segregation of duties.
• Identify potential fraud risks and control deficiencies.

4. Compliance Audits

• Review compliance with company policies and statutory requirements.
• Verify GST, TDS, inventory, procurement, and payment-related controls.
• Check adherence to delegation of authority and approval procedures.
• Evaluate compliance with management directives and audit recommendations.

5. Operational Audits

• Conduct audits of procurement, inventory management, manufacturing, sales, and finance processes.
• Review transaction samples and supporting documents.
• Identify inefficiencies, leakages, and operational risks.
• Suggest measures for cost control and process optimization.

6. Audit Reporting

• Prepare detailed audit reports highlighting observations, risks, root causes, and recommendations.
• Discuss findings with department heads and management.
• Track closure of audit observations.
• Present periodic audit status reports to management.

7. Expense Audit & Financial Review

• Review revenue and expense bookings to ensure accuracy, completeness, and adherence to accounting policies.
• Verify that expenses are supported by appropriate documentation and approvals.
• Examine expense classifications and cost allocations to identify misclassifications or unusual transactions.
• Conduct periodic scrutiny of major expense heads such as Travel, Repairs & Maintenance, Marketing, Freight, Employee Expenses, Professional Fees, and Administrative Expenses.
• Review provisions, accruals, and month-end journal entries for correctness.
• Identify opportunities for cost optimization and control improvements.
• Verify compliance with budgetary controls and management-approved spending limits.
• Highlight abnormal trends, duplicate payments, or policy deviations for management review.

Preferred candidate profile