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.

Romesh Vijay

Partner
Valuation Services

Romesh has 10+ years of professional experience in valuation, corporate finance, and assurance domains. He currently leads the valuation practice at Felix Advisory. He has led on 300+ valuations for 100+ clients including large Indian corporates, multinational companies, and high-growth start-ups for regulatory, transaction, and reporting purposes. He has assisted companies operating in real estate, infrastructure, renewables, power and steel, industrial manufacturing, automobile, education, internet and technology sectors.

Prior to his association with Felix, he worked with S. R. Batliboi (member firm of Ernst & Young in India) as a part of assurance services where he served a variety of large Indian corporates and multinational companies. He had started his Chartered Accountancy career in 2004 and interned with BL Ajmera & Co.as a part of the Audit and Assurance Division.
Romesh, a rank holder Chartered Accountant, qualified in 2008.