3 Golden rules for Internal Audit, Statutory Audit, Risk Audit, Forensic Audit, Due Diligence, Internal Controls, etc. (2024)

1st Golden Rule : Keep your ears open and be sharp to hear an information that will be useful during the course of assignment. There maybe some information we may conclude that it is misleading or confusing but it is better to test everything during an assignment instead of not testing it and later regret for it.

2nd Golden Rule : Keep your eyes open especially being perceptiveeye to pierce the corporate veil and have better understanding on substance over form.

Do not believe without documents and do not always believe on documents. There are magician as well in this corporate world, normally we don't believe unless we see it but don't believe magician too as what they show are tricks and everyone knows the truth that there is nothing like magic.

3rd Golden Rule : Always speaks out before correct person/s, correct committee/s if appointed or to regulators in case of mandatory reporting as per law, code of conduct laid by professional body, corporate responsibility, social responsibility and national responsibility.

Being vigilant is the call of time, when corporates adopted malpractices of conducting operations, violate the laws and breach trust of stakeholders'. Further, Directors and Designated Partners are not fulfilling stewardship role efficiently.

Please feel free to contact myself if you have comments, feedback, require any clarification or need any elucidation.

3 Golden rules for Internal Audit, Statutory Audit, Risk Audit, Forensic Audit, Due Diligence, Internal Controls, etc. (2024)
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