We go beyond mere documentation. We assess existing workflows, map risks to controls, and help design or refine a robust IFC framework tailored to your specific processes, including procure-to-pay, order-to-cash, payroll, inventory, and financial closing.

Once implemented, we conduct testing of controls manual and automated based on risk prioritization. This includes walkthroughs, control design testing, and operating effectiveness checks. The outcome is well-documented evidence of control compliance.

IFC reporting is a legal requirement under Indian law. Section 134 mandates the Board to confirm IFC implementation, while Section 143 makes auditors responsible for expressing their opinion on its adequacy and effectiveness. Our services help fulfill both responsibilities.

We include IT General Controls (ITGCs) and application-level controls as part of IFC testing where applicable. This ensures your technology environment also supports accurate financial reporting and access restrictions.

Whether you’re a mid-size private company or a listed entity, we scale our IFC framework to your needs. We also support re-testing during audits, SOX alignment for global clients, and integration with ERM (Enterprise Risk Management).

• IFC framework design, documentation, and implementation

• Risk-based control mapping and walkthroughs

• Periodic testing and validation of control effectiveness

• IT controls & process-level control testing

• Compliance support under Companies Act (Sec 134 & 143)

• End-to-end support for management and auditor reporting
• Training for control owners and stakeholders
• Scalable solution across business sizes and industries

We don’t believe in one-size-fits-all auditing. At Pawan Lohia & Associates, every Risk-Based Internal Audit begins with an in-depth understanding of your business model, industry dynamics, and regulatory exposure. Our team collaborates closely with your internal stakeholders to prioritize risk areas, define scope, and execute detailed audits with a strategic lens.