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An Internal Audit offers risk management and evaluates the effectiveness of a company’s internal controls, corporate governance, and accounting processes.

Internal audits provide management and board of directors with a value-added service where flaws in a process may be caught and corrected prior to external audits.

Internal auditing activity is primarily directed at evaluating Internal Control. Internal control is broadly defined as a process, effected by an entity’s board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of the following core objectives for which all businesses strive:

Effectiveness and efficiency of operations.
Reliability of financial and management reporting
Compliance with laws and regulations
Safeguarding of Assets

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