Internal Audit Services
Insight. Assurance. Better Governance.
Internal Audit is more than a compliance exercise - it is a strategic function that provides management and the Board with assurance over processes, risks, and controls. Organizations increasingly seek flexible, scalable, and high-quality Internal Audit support that aligns with their risk appetite and operational objectives.
At Varah Risk Advisory Services LLP, we offer risk-based internal audit services delivered through a global offshore model, helping companies strengthen governance, identify gaps, and enhance operational efficiency - while benefiting from significant cost savings.
Our Internal Audit teams are trained on IIA Standards, versed in industry best practices, and experienced in delivering audit-ready, actionable reports.
Our Internal Audit Capabilities
Internal Audit Planning & Risk Assessment
We begin by understanding your organization - strategy, objectives, operational environment, and risks.
Our team performs:
- Annual IA risk assessments.
- Audit universe development.
- Multi-year internal audit plans.
- Stakeholder interviews and workshops.
This aligns the internal audit plan to key business priorities.
End-to-End Internal Audit Execution
Varah delivers full-scope internal audits, including:
- Walkthroughs and process understanding.
- Identification of key risks and controls.
- Testing for design and operating effectiveness.
- Data analysis to strengthen testing coverage.
- Root cause analysis.
- Clear, actionable reporting.
We work under your audit methodology or provide our own structured IA framework.
Co-Sourced Internal Audit Support
Varah acts as an extension of internal audit functions by:
- Providing skilled offshore professionals.
- Supporting peak workloads or complex audits.
- Conducting specific audit modules or full audits.
- Maintaining communication with your IA management.
This model gives your team access to high-quality IA resources without adding fixed costs.
Outsourced Internal Audit
For organizations without a dedicated IA function, Varah provides full IA outsourcing:
- Full IA plan creation.
- Execution of all internal audits.
- Reporting to Audit Committee/Board.
- Follow-up and tracking of remediation.
Our outsourced model enables independence, consistency, and comprehensive coverage.
Compliance & Specialty Audits
We also support:
- SOX/ICFR-related operational audits.
- Third-party/vendor audits.
- Fraud risk assessments.
- ITGC and cybersecurity audits (with partner specialists).
- Regulatory and compliance reviews.
Our Internal Audit Approach
Varah’s IA methodology is grounded in:
- Risk-based planning focused on critical areas.
- Scalable team structures to meet deadlines.
- Clear documentation aligned with IIA and PCAOB guidance.
- Action-oriented reporting that helps stakeholders make decisions.
- Efficient offshore execution supported by strong coordination.
Why Choose Varah for Internal Audit?
- Experienced IA Professionals: Our auditors bring diverse industry experience and strong control understanding.
- Flexible Delivery Models: Loaned staff, co-sourcing, module-based audits, or full outsourcing - we adapt to your needs.
- High-Quality Reporting: Concise findings, practical recommendations, and management-friendly language.
- Cost-Effective Execution: Offshore delivery provides 30-40% cost savings while maintaining high audit quality.
- Reliable Collaboration: Consistent updates, clear expectations, and disciplined project management.
Your Internal Audit Partner
Whether you want to strengthen your IA function, expand coverage, or improve audit quality, Varah is a reliable offshore partner committed to delivering insight-driven assurance.
📩 Connect with us to discuss your next internal audit project.
