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Internal Audit Services for Indian Businesses That Want Fewer Surprises

Internal audit services help Indian organisations move beyond compliance to build confidence in governance, risk management and controls – while enabling faster, better decisions. At First Startup, we deliver internal audit services that are risk-based, technology-enabled and tailored to your industry, operating model and regulatory environment.

  • Risk-based internal audit services aligned to business objectives
  • Technology-enabled internal audit services
  • Flexible delivery models
  • Practical recommendations that strengthen controls

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Basic

15000
Process Review
Risk Assessment
Compliance Check
3 more features available
Most Popular

Standard

30000
Comprehensive Process Review
Detailed Risk Assessment
Compliance Audit
5 more features available

Premium

50000
Full Business Audit
Advanced Risk Assessment
Complete Compliance Review
7 more features available

Our Internal Audit Services

Internal audit services today must keep pace with rapid digitisation, evolving regulations and shifting risk profiles – without losing sight of core assurance. First Startup's internal audit services are designed to help Audit Committees, CFOs, CIOs and business leaders get timely insight, deeper coverage and measurable value.

Below is how we typically support clients across India with internal audit services.

Technology Audit Internal Audit Services

Meet your IT risk, governance and compliance objectives through access to audit and controls specialists who help you identify, assess, manage and mitigate key technology risks.

Our technology-focused internal audit services commonly cover:

  • IT general controls (ITGC) and application controls reviews
  • Cybersecurity governance and security control effectiveness assessments
  • Cloud risk and control reviews (shared responsibility clarity, identity and access management, logging/monitoring)
  • IT vendor and third-party risk controls (including SOC report interpretation and gap closure support)
  • Data governance controls, access controls and privileged user monitoring

Outcomes you can expect: clearer control ownership, reduced control gaps, faster remediation, and audit-ready evidence practices.

Audit Transformation Internal Audit Services

Provide strategic advice to Audit Committee, Executives and Chief Auditors. Plan for and drive transformation of Internal Audit programmes to maximise efficiency and effectiveness, and value delivered to the organisation.

Our audit transformation internal audit services can include:

  • Internal audit charter refresh and alignment with board expectations
  • Risk assessment redesign and annual plan optimisation
  • Audit methodology standardisation (planning, fieldwork, reporting, issue tracking)
  • Quality assurance and improvement programme (QAIP) support and readiness
  • Capability build: skills matrix, training roadmap, and audit tool selection

This work is especially valuable for growing Indian businesses where risk maturity is changing quickly and leadership needs internal audit to be more forward-looking and advisory.

Audit Innovation Internal Audit Services

Enable audit functions with Next Generation strategies, tools and technologies including data-driven audits, design thinking, artificial intelligence and automation.

Innovation-led internal audit services typically include:

  • Audit analytics: automated tests for key controls and exception reporting
  • Continuous auditing/monitoring for high-risk processes
  • Process mining to identify control breakdowns and process inefficiencies
  • Reporting upgrades (dashboards for Audit Committees, risk heatmaps, trend views)
  • Use-case identification and governance for responsible AI in audit work

The goal is simple: increase coverage and insight without proportionally increasing audit effort.

Controls Advisory

Access deep expertise related to all things controls, whether to support internal audit, audit readiness, compliance or regulatory objectives. Design, implement and run control testing programmes and embed the controls mindset into everything an organisation does.

Controls advisory internal audit services may involve:

  • Controls design and rationalisation for finance and operations
  • Entity-level controls (ELC) and governance controls strengthening
  • Control testing programmes (including standardised working papers and evidence protocols)
  • Policy and SOP alignment with practical "how work gets done" realities
  • Support for management action plans (MAPs) with clear owners, timelines and metrics

Where relevant, we align controls with recognised frameworks and your internal policies—so improvement is measurable and sustainable.

Fraud Risk Management

Respond to red flags or fraud reports and develop right-sized fraud risk management programmes tailored to your unique fraud risk profile.

Our fraud-focused internal audit services can include:

  • Fraud risk assessments (by process, location, channel and role)
  • Forensic-style review support (document review, data testing, interview support)
  • Anti-fraud control design (segregation of duties, maker-checker, approvals, monitoring)
  • Whistleblower process review and governance enhancements
  • Third-party and procurement fraud risk controls

You get actionable insights, not just findings—so you can prevent recurrence, improve detection, and protect reputation.

Capital Project Consulting

Realise the maximum potential of your capital programmes and projects. We bring hands-on experience in construction, engineering, procurement, contracting and construction auditing.

Capital project internal audit services can cover:

  • Pre-award and post-award contract controls and compliance checks
  • Procurement and vendor governance for capex programmes
  • Measurement book / billing validation support (where applicable)
  • Change order controls, project governance and approval discipline
  • Project risk registers and controls for schedule/cost/quality assurance

This is particularly relevant for infrastructure, manufacturing, utilities and real estate-led growth across India.

SOX Internal Audit Services

Strengthen financial reporting governance and controls with a structured, scalable approach to controls documentation, testing and remediation—especially for groups with global reporting requirements or plans to list overseas.

Our SOX-related internal audit services often include:

  • Scoping and risk assessment support
  • Process and controls documentation (narratives, flowcharts, RCMs)
  • Testing design and operating effectiveness
  • Deficiency evaluation and remediation programme support
  • Coordination support across business units and shared service centres

We help you reduce last-minute surprises and improve audit readiness with consistent evidence and disciplined issue closure.

Internal Audit Strategic Sourcing

World-class industry and technical skills, available where and when you need them. First Startup can deliver full outsourced solutions, access to subject matter experts, delivery centre models and tactical staff augmentation.

To keep internal audit services cost-effective and resilient, we offer:

  • Co-sourced internal audit services (your team + our specialists)
  • Fully outsourced internal audit services (end-to-end delivery with governance)
  • On-demand SMEs (IT, cybersecurity, treasury, ESG, data, compliance, operations)
  • Surge capacity for peak periods (year-end, large audits, special reviews)

This lets you match skills to risk—without long hiring cycles.

The future of internal audit. Forward-looking focus with leading practices, innovation and technology enablement at the core

Our Approach - How Our Internal Audit Services Approach Works?

Our internal audit services bring deep expertise and domain insight to enhance and protect organisational value through risk-based and objective audit, assessment and advisory work.

Indian businesses are navigating complex change—rapid digital adoption, tighter governance expectations, evolving privacy and security expectations, and increasing stakeholder scrutiny. These shifts introduce new risks and opportunities across finance, operations, technology and third parties.

Effectively navigating these opportunities and risks requires internal audit services that are:

  • Forward-looking (anticipating what could break next, not only what broke last)
  • Data-enabled (using analytics to increase coverage and detect exceptions faster)
  • Practical (prioritising recommendations that management can implement)
  • Credible (clear evidence, strong workpapers, and consistent reporting)

Our Approach:

  • Deep technical and industry skillsets
  • Focused on innovation
  • Range of sourcing solutions – from fully outsourced and delivery centre capabilities to strategic staffing solutions
  • Controls, compliance, and risk management expertise
  • Focused on you

What You Can Expect From Our Internal Audit Services Delivery?

To make outcomes consistent across locations, functions and business units, our internal audit services typically follow a clear lifecycle:

  • Plan: understand your objectives, risk universe, prior issues, and stakeholder expectations
  • Assess: perform risk assessment and confirm scope, criteria and success measures
  • Execute: fieldwork using process walkthroughs, control testing, substantive testing and analytics
  • Report: prioritised issues, root causes, impact, and pragmatic recommendations
  • Improve: remediation support, issue tracking, validation, and continuous improvement

We provide you with better information for decision-making regarding the systems and processes that drive your technology, compliance or operational efforts. Our expertise, plus a technology and innovation focus, helps identify opportunities to improve business performance – without losing the independence expected from internal audit services.

Internal Audit Services For India: Focus Areas We See Most Often

Because the target audience is India-based leadership teams and fast-growing organisations, our internal audit services commonly prioritise:

  • Process integrity in scale-up mode: procurement, vendor onboarding, delegations of authority, and spend controls
  • Revenue assurance: order-to-cash controls, discounts, credit notes, returns, and leakage detection
  • Working capital discipline: inventory controls, GRN controls, vendor reconciliations, and ageing hygiene
  • Third-party risk: outsourced operations, logistics partners, SaaS vendors and service providers
  • Technology risk and cyber readiness: access governance, change management, endpoint and identity controls
  • Regulatory and governance expectations: board reporting, policy compliance, and evidence readiness

Why First Startup for Internal Audit Services?

When evaluating partners, many clients compare capabilities across audit companies in India. Our approach is built around outcomes, not just checklists:

  • Business-first recommendations that management can implement with clear ownership and timelines
  • Flexible staffing models so you only pay for the expertise you need, when you need it
  • Technology-enabled coverage using analytics to improve insight and reduce cycle time
  • Strong governance with clear status reporting, issue tracking and stakeholder management

We also support teams seeking internal audit consulting services to uplift their existing function (methodology, QAIP readiness, reporting, tooling and capability build), not only to execute audits.

How We Measure Success in Internal Audit Services Engagements?

To ensure internal audit services create real value, we align on measurable indicators such as:

  • Reduction in repeat findings and overdue action plans
  • Faster audit cycle times without quality reduction
  • Higher coverage of high-risk areas through analytics
  • Improved Audit Committee confidence through clearer reporting and trend analysis
  • Stronger control environment outcomes (fewer breakdowns, better evidence, better accountability)

Who We Support With Our Internal Audit Services?

Our internal audit services are designed for:

  • Boards and Audit Committees needing sharper risk visibility
  • CFO organisations focused on controllership and governance
  • CIO/CISO teams managing fast-changing technology risk
  • Operations leaders seeking process resilience and efficiency
  • Growing organisations formalising governance as they scale

Whether you need full outsourcing, co-sourcing or targeted reviews, we can adapt the delivery model to your maturity and priorities.

Get in Touch For Professional Internal Audit Services

If you're looking to strengthen assurance, improve control maturity, or modernise your function, speak to First Startup about internal audit services. We'll help you define the right scope, the right delivery model, and a roadmap that balances assurance with value creation. Request a consultation for internal audit services today.

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