Internal Auditor

Mittal Electronics; New Delhi; On-site; INR 800,000 - 1,500,000; Full time

Job summary

Mittal Electronics is seeking an experienced Internal Auditor to lead and execute comprehensive audits across finance, operations, procurement, and inventory. The role emphasizes FAR verification, process controls, compliance checks, and effective reporting to management.

The candidate will review SOPs, test controls, identify inefficiencies and cost-saving opportunities, track corrective actions, and present clear audit observations with actionable recommendations to department heads.

Job description

Role & responsibilities

Key Responsibilities

1. Fixed Asset Register (FAR) Review

• Verify the completeness and accuracy of the Fixed Asset Register.
• Conduct physical verification of fixed assets and reconcile with FAR records.
• Check capitalization, asset tagging, transfers, disposals, and depreciation practices.
• Identify untagged, idle, obsolete, or missing assets.
• Ensure compliance with company policy and applicable accounting standards.

2. SOP & Process Audits

• Review SOPs across departments for adequacy and effectiveness.
• Verify whether departmental activities are being performed as per approved SOPs.
• Identify process gaps, control weaknesses, and non-compliance issues.
• Recommend process improvements and control enhancements.
• Monitor implementation of corrective actions.

3. Internal Control Review

• Assess the effectiveness of internal controls across Finance, Purchase, Stores, Sales, HR, and Operations.
• Test key controls and document audit observations.
• Review approval matrices, authority limits, and segregation of duties.
• Identify potential fraud risks and control deficiencies.

4. Compliance Audits

• Review compliance with company policies and statutory requirements.
• Verify GST, TDS, inventory, procurement, and payment-related controls.
• Check adherence to delegation of authority and approval procedures.
• Evaluate compliance with management directives and audit recommendations.

5. Operational Audits

• Conduct audits of procurement, inventory management, manufacturing, sales, and finance processes.
• Review transaction samples and supporting documents.
• Identify inefficiencies, leakages, and operational risks.
• Suggest measures for cost control and process optimization.

6. Audit Reporting

• Prepare detailed audit reports highlighting observations, risks, root causes, and recommendations.
• Discuss findings with department heads and management.
• Track closure of audit observations.
• Present periodic audit status reports to management.

7. Expense Audit & Financial Review

• Review revenue and expense bookings to ensure accuracy, completeness, and adherence to accounting policies.
• Verify that expenses are supported by appropriate documentation and approvals.
• Examine expense classifications and cost allocations to identify misclassifications or unusual transactions.
• Conduct periodic scrutiny of major expense heads such as Travel, Repairs & Maintenance, Marketing, Freight, Employee Expenses, Professional Fees, and Administrative Expenses.
• Review provisions, accruals, and month-end journal entries for correctness.
• Identify opportunities for cost optimization and control improvements.
• Verify compliance with budgetary controls and management-approved spending limits.
• Highlight abnormal trends, duplicate payments, or policy deviations for management review.