Management Audit

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Management Audit


Internal audit is a dynamic profession involved in helping the organizations to achieve their objectives. It is concerned with evaluating and improving the effectiveness of risk management, control and governance processes in an organization.Internal audits play a pivotal role in assisting the leadership to strengthen its processes. Our evolved methodologies not only provide qualitative assessments of risk that highlight fundamental causes of performance gaps, they also provide authentic and relevant solutions to prevent repeats.

At PKP & CO we believe that the organizations must focus on their strategic risks i.e., those risks that affect the overall well-being of the organization. This allows the senior management to focus on those areas that acts as a hindrance to the organization's ultimate success. This focus aligns the organization's objectives along with the proceedings to achieve them.

What Sets PKP & CO Apart:

  • Holistic, Value Driven Audits: We focus on enhancing business systems and controls—not just fault-finding—to build resilience and transparency at all organizational levels.
  • Tailored Risk Assessment: Starting with management expectations, we define the audit universe, identify key risk areas, and craft bespoke audit plans that reflect business priorities.
  • Execution Excellence: Audits are conducted via structured programs, including process walkthroughs, data analytics, and control testing—followed by clear reporting to senior management or audit committees.
  • Continuous Feedback & Improvement: Client feedback loops enable us to refine our methodology and recommendations continuously, ensuring relevancy and impact.

Pratapkaran Paul & Co.,(PKP),Chartered Accountants

Our approach goes beyond control assessments—it acts as a business enabler. We uncover root causes, reinforce process robustness, and equip leadership and audit committees with data-driven findings and recommendations to enhance organizational efficiency and accountability.

At PRATAPKARAN PAUL & CO, Chartered Accountants, our management audit services are designed to deliver an unbiased, strategic evaluation of your organization’s systems, processes, and management effectiveness. We go beyond compliance, identifying opportunities for improvement that support long-term growth and operational resilience



Internal Audit

  • We assess the efficiency and effectiveness of internal control systems, processes, and compliance, focusing on enhancing governance and minimizing risk.
  • Our audits help departments and the board identify process bottlenecks, redundancies, or compliance gaps that impact overall performance.
  • Reports include root-cause analysis and actionable recommendations, tailored for each operational level—from strategic to tactical.
  • We use data-driven techniques and industry benchmarks to align operations with sector best practices and streamline processes.

Internal Control Review

  • Our internal control reviews offer an independent evaluation of control design and operational effectiveness across business functions.
  • We identify weaknesses in authorization workflows, segregation of duties, and reconciliation procedures that may expose risk.
  • The goal is to fortify control environments, improve procedural integrity, and eliminate control loopholes.
  • Our insights support leadership in strengthening risk governance, compliance frameworks, and regulatory alignment.

Financial Closure Review

  • We review the month end and year end close processes, validating completeness, accuracy, and timing of financial statements.
  • Focused on faster close cycles, we pinpoint reconciliation delays, accounting anomalies, and closing bottlenecks.
  • Recommendations include process improvements, financial review automation, and best practices aligned with industry standards.
  • Our closure review helps finance teams deliver reliable, timely reporting to management and stakeholders.



Pre Audit / Transaction Verification Audit

  • Our pre audit audit verifies key financial transactions before formal reporting, ensuring accuracy and correctness in ledger postings.
  • We examine large or unusual transactions, vendor contracts, compliance transactions, and high-risk journals.
  • This proactive approach helps prevent errors, fraud, or misstatement in financial records.
  • Findings include verification summaries and pre-emptive correction suggestions to safeguard reporting integrity.



Review of ICFR / IFC (Internal Controls over Financial Reporting)

  • We assess the design and operational effectiveness of controls over financial disclosures, reconciliations, and reporting cycles.
  • Our ICFR reviews ensure compliance with corporate governance norms and audit committee expectations.
  • We test controls linked to financial reporting, including closing process controls, journal entry approvals, and access controls.
  • We provide frameworks to strengthen governance, reduce reporting risk, and facilitate reliable stakeholder assurance.



Periodic Inventory Verification

  • Coordination of group audit processes across multiple jurisdictions
  • Assistance in aligning reporting formats and timelines with parent companies
  • Review of inter-company transactions and eliminations
  • Ensuring consistency with global reporting requirements and audit trails