What are the types of internal audits?

Internal audits can include operational audits, compliance audits, financial audits, forensic audits, IT audits, and environmental audits.

What are the key standards in internal audits?

The key standards include independence, objectivity, proficiency, quality assurance, and communication.

What is the risk-based approach in internal audits?

The risk-based approach prioritizes auditing high-risk areas within an organization to focus resources where they are needed most.

What are the 5 C's of internal audit?

The 5 C's are Control, Compliance, Cost, Consistency, and Communication, which are critical for a successful audit process.

How does an internal audit help in risk management?

Internal audits help identify and mitigate risks by ensuring that internal controls are effective and that the company complies with laws and regulations.

Amit Nayyar

Tax Advisory

Amit Nayyar is a Chartered Accountant and an Advocate, with overall experience of more than 15 years, specialising in advising clients over various facets of India and international taxation, amongst others. Amit is currently associated as a Senior Tax Partner with Felix Advisory. Previously, Amit was a Tax Director with Deloitte India and Manager/Senior Consultant with PwC India/EY India in their tax divisions for an aggregate period of 14 years, wherein he led several important engagements for the clients across various industry sectors.

Amit has to its credit wins in several important litigation matters before the Indian Tribunals and High Courts. His professional experience also includes assisting MNCs in obtaining a binding confirmation from Authority of Advance Ruling, New Delhi in respect of India taxability of their business transactions. Amit also has rich experience in advising clients on inbound investment strategies, transaction structuring and on issues relating to Foreign Direct Investment and exchange control regulations.

Amit is an avid speaker at various forums and has also scripted numerous articles on important tax issues.