Role Purpose To support the Internal Audit function in conducting risk-based audits, Internal Financial
Controls (IFC) testing, process reviews, compliance audits, and ensuring timely closure of audit observations across business functions.
Key Responsibilities
1. Internal Audit Execution
• Conduct process audits across business functions (Sourcing, Finance, Stores, Production, HR, etc.).
- Perform risk assessment and identify control gaps.
- Execute audit programs and document working papers.
- Evaluate adequacy and effectiveness of internal controls.
- Draft audit observations with root cause analysis and risk rating.
- Discuss findings with process owners and obtain management responses.
1. Internal Financial Controls (IFC) Testing
• Perform design and operating effectiveness testing of IFC controls.
- Assist in preparation and updating of Risk Control Matrix (RCM).
- Identify control deficiencies and suggest remediation measures.
- Support management in strengthening financial reporting controls.
- Track remediation of IFC gaps.
1. Risk & Governance
• Assist in enterprise risk identification and documentation.
- Monitor key financial and operational risks.
- Evaluate compliance with policies, SOPs, and statutory requirements.
- Support governance framework improvements.
1. Compliance & Regulatory Review
• Review compliance with Companies Act, GST, Income Tax,
Labour Laws, MSME Act, etc.
- Ensure proper documentation and record retention as per statutory requirements.
- Identify non-compliance areas and recommend corrective actions.
1. Audit Reporting & Follow-up
• Prepare draft audit reports with actionable recommendations.
- Maintain audit tracker and monitor closure of findings within agreed timelines.
- Conduct follow-up audits to ensure effective implementation.
- Maintain documentation repository for audit evidence.
1. Data Analysis & Controls Monitoring
• Perform data analytics for exception identification.
- Review transactional data for anomalies, fraud indicators, or control breaches.
- Assist in automation of audit processes where feasible.
Key Deliverables / KPIs
- Completion of audits as per audit plan.
- Timely closure of audit findings.
- Effective IFC testing with minimal repeat observations.
- Improvement in control environment maturity.
- Proactive identification of financial and operational risks.
Qualifications & Experience
- CA Inter / CMA / MBA (Finance) / Semi-qualified professional.
- 1–4 years of experience in Internal Audit / Risk Advisory / IFC.
- Strong understanding of accounting principles and internal controls.
- Knowledge of ERP systems.
- Valuable drafting and communication skills