Internal audit often gets mistaken for a once-a-year compliance formality — something the finance team handles quietly and nobody else thinks about until it’s time for the board meeting. In reality, a well-run internal audit process is one of the most effective risk management tools a company has. With regulators like SEBI and RBI paying closer attention to governance, and with new obligations like the DPDP Act adding fresh categories of risk, Indian businesses are increasingly treating internal audit as a strategic function rather than a box-ticking exercise. Here’s how the process actually works.
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