Internal Audits
Internal Audits
Even the best accounting teams can make mistakes, and without proper checks, small errors can compound into major financial discrepancies. M S Management Consultancy provides an independent “third-eye” view of your accounts.
We do not replace your current accountants; we empower them. Our Internal Audit service acts as a health check for your business, systematically reviewing your financial records to identify process gaps, detect irregularities, and ensure that your reported figures match the ground reality.
Key Features
Error Detection & Correction
Human error is inevitable. We scrutinize ledgers, vouchers, and bank statements to find double entries, missed invoices, or misclassifications, correcting them before they affect your final balance sheet.
Fraud Prevention & Control
The most effective way to prevent financial leakage is regular oversight. Our audit procedures include verifying authorized signatories, expense approvals, and cash handling processes to minimize the risk of internal fraud.
Our audit process is thorough and tailored to your business size. We focus on:
- Vouching & Verification: Cross-checking bills against entries to ensure authenticity.
- Statutory Compliance Check: Verifying if GST, TDS, and PF/ESIC have been calculated and filed correctly by your team.
- Debtor & Creditor Analysis: Reviewing aging reports to identify stuck payments or unverified liabilities.
- Bank Reconciliation: Ensuring your book balance perfectly matches your bank statement.
- Stock/Inventory Verification: (Optional) Physical verification of stock to match book records.
FAQ's
01 Will this upset my current accounting staff?
Not at all. We position ourselves as a support system, not police. We work with your team to help them keep the books clean and audit-ready, which actually reduces their workload during year-end.
02 How often should an internal audit be done?
It depends on your transaction volume. We recommend Quarterly Audits for SMEs and Monthly Audits for high-volume businesses to ensure real-time accuracy.
03 Do you provide a report?
Yes. At the end of every audit cycle, we submit a detailed Audit Report highlighting errors found, corrections made, and recommendations for the future.