Risk Advisory & Internal Audit
Independent assurance and risk management grounded in global standards.
Overview
ValueChakra Advisory provides risk-based internal audit and advisory services designed to strengthen governance, improve controls, and protect enterprise value. Our team brings deep technical expertise across IIA Standards, COSO, COBIT, and SOX frameworks, delivering audit engagements that go beyond compliance — identifying root causes, quantifying exposures, and driving measurable control improvements. We serve boards, audit committees, and management teams who require objective, independent assurance over their most critical risk areas. From first-time internal audit mandates to sophisticated IS Audit and fraud investigation engagements, we deploy rigorous methodologies calibrated to the complexity of each assignment.
What we deliver
8 service offerings within this practice.
Risk-based Internal Audit
Design and execute assurance over your highest-risk processes and controls using a risk-based framework.
Information Systems Audit (SSAE 18, ITGC, ISO 27001, COSO/COBIT, SOX)
Assess ITGC, security, and compliance controls across systems and regulatory frameworks.
Internal Financial Controls Review (IFC/IFCFR)
Evaluate financial control design and operating effectiveness against IFC and IFCFR requirements.
Management Audits & Agile Audits
Review governance, process performance and controls with a flexible, management-focused approach.
Risk Assessment of Business Processes
Identify and prioritise process-level risks with heat maps, impact analysis and control gap reviews.
Fraud Investigation & Forensic Accounting
Investigate suspected fraud, quantify loss impact, and gather evidence for remediation and reporting.
Physical Inventory & Fixed Asset Tagging
Verify stock and asset registers through physical counts, reconciliation and tagging exercises.
Surprise & Mystery Audits
Deliver unannounced audit checks to test control effectiveness under live operating conditions.
Our methodology
A structured, senior-led path from baseline to follow-up.
Risk Universe Identification
Map all business processes and identify inherent risks using COSO/IIA frameworks.
Risk Assessment
Rate risks by likelihood and impact; build a risk heat map aligned to management priorities.
Audit Plan
Develop a risk-based internal audit plan aligned with IIA Standards and the board's risk appetite.
Fieldwork & Testing
Execute controls testing, substantive procedures, and data analytics to gather audit evidence.
Findings & Recommendations
Draft observations with root cause analysis, financial impact, and agreed management action plans.
Reporting
Issue draft report to management; conduct exit conference; issue final report to audit committee.
Follow-up
Track closure of agreed action plans through structured follow-up reviews.
What sets us apart
Multi-credentialed team with CAs, CISAs, and Big 4-trained professionals executing every engagement
Structured follow-up framework ensuring >90% closure rate on agreed audit findings
Deep IS Audit capability covering SOX ITGC, ISO 27001, and SSAE 18 Type II attestations
Standards & frameworks we work to
IIA Standards (2024), COSO Internal Control Framework (2013), COBIT 2019, ISO 27001:2022, SOX Section 302/404, ICAI Guidance Note on IFC
The information on this page is for general informational purposes only. It does not constitute professional advice. Specific advice should be sought based on the facts of each situation. ValueChakra Advisory Private Limited accepts no liability for action taken in reliance on this information.
Have a requirement in Risk Advisory?
Tell us the problem — a senior advisor will scope it with you and propose a clear way forward.