Internal Audit: Your Proactive Growth Partner
An Internal Audit is a continuous "health check" for your company. At Diwakar and Associates, we provide the clarity management needs to ensure that ground-level operations align with board-level goals.
Applicability Limits (The Numbers)
Under Section 138 of the Companies Act 2013, internal audit becomes mandatory when the following financial thresholds are met in the preceding financial year.
| Entity Type | Turnover | Outstanding Loans | Other Triggers |
|---|---|---|---|
| Listed Company | Always Mandatory | Always Mandatory | N/A |
| Unlisted Public | ₹200 Cr or more | ₹100 Cr or more | Capital ≥ ₹50 Cr / Deposits ≥ ₹25 Cr |
| Private Company | ₹200 Cr or more | ₹100 Cr or more | N/A |
Why, When & Where is it done?
Why
To ensure that internal controls are strong enough to prevent errors and fraud while maximizing resource utilization.
When
Conducted periodically throughout the year (Quarterly or Half-Yearly) to identify risks in real-time.
Where
Across all operational areas—from your corporate headquarters to manufacturing plants and regional warehouses.
How we perform the Audit at Diwakar and Associates
We follow a Risk-Based Internal Audit (RBIA) methodology:
1
Risk Mapping
We identify the "high-threat" areas specific to your industry.
2
Control Testing
We verify if your existing checks (like authorization limits) actually work.
3
Gap Analysis
We highlight where processes are weak or being bypassed.
4
Actionable Reporting
We provide a "Red-Amber-Green" risk report with clear timelines for correction.
The Impact
We transform this statutory requirement into a "business intelligence" tool that safeguards your assets and sharpens your competitive edge.
Our Commitment to You
Accuracy is the cornerstone of our practice. At Diwakar and Associates, we commit to being your "Eye on the Ground." We promise transparent reporting, zero-compromise data security, and a strictly professional approach that respects your team's operational time.
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