Institute of Internal Auditors, U.S.A certifies BILT's Audit Services
Accreditation of India's first internal audit department by IIA, USA; Acknowledges BILT's world class structure, policies and processes
Tweet-- The Chief Audit Executive, QA team leader, Institute of Internal Auditors, U.S.A undertook a validation process for BILT’s audit services that have conformed to IAA standards and code of ethics. BILT has been extolled by the Institute of Internal Auditors, USA, the parent body for the Institute of Internal Auditors of India (IIA).
The validation consisted of correspondence and meetings with BILT Head-Internal Audit (HIA) and QA team leader, including advising HIA on the QA project and discussing the related processes and tools. The team also carried out a detailed review of the self – study and work papers prepared by the QA team and testing of the procedures and results of the self-assessment.
The validation process was integrated with interviews of the chairperson and members of BILT’s Audit Committee, and senior executives. Post which, IAA reviewed the set audit work papers, as well as reading selected CAS reports submitted to BILT clients and the Audit Committee in 2007. Lastly, a review of the draft report was prepared by the QA team along with supporting documentation of QA findings and evaluation of conformity to the IIA standards and code of ethics.
“The Institute of Internal Auditors, U.S.A., has certified BILT's corporate audit services as India's first internal audit department to conform to its Standards and Code of Ethics. This is a matter of great honour and pride for us. This certification acknowledges our audit department's path breaking efforts in setting up world class structure, policies and processes,” said Mr. B. Hariharan, Group Director - Finance & Member of Board, Avantha Group
Established in 1941, The Institute of Internal Auditors (IIA) is an international professional association with global headquarters in Altamonte Springs, Fla., USA. The IIA is the internal audit profession's global voice, recognized authority, acknowledged leader, chief advocate, and principal educator. Members work in internal auditing, risk management, governance, internal control, information technology audit, education, and security.
The mission of The Institute of Internal Auditors is to provide dynamic leadership for the global profession of internal auditing. The key objectives that are undertaken by the Institute of Internal Auditors include:
- Advocating and promoting the value that internal audit professionals add to their organizations;
- Providing comprehensive professional educational and development opportunities;
- standards and other professional practice guidance; and certification programs;
- Researching, disseminating, and promoting to practitioners and stakeholders knowledge concerning internal auditing and its appropriate role in control, risk management, and governance;
- Educating practitioners and other relevant audiences on best practices in internal auditing;
- Bringing together internal auditors from all countries to share information and experiences;
Notes to Editor
About Avantha Group:
Avantha Group is one of India’s leading business conglomerates. Its i successful entities include BILT, Crompton Greaves, Solaris Chemtech, Global Green, Biltech, BILT Power and Salient Business Solutions. International subsidiaries include Pauwels, SFI, Intergarden, Ganz, Microsol. The over US$ 3 billion Avantha Group is on the path for a turnover of USD 10 billion and a market capitalization of US$ 25 billion by 2013. The Group has business interests in diverse areas including Power generation and distribution, Power transmission and distribution equipment and services; paper and pulp; food processing; farm forestry; chemicals; infrastructure, IT and ITES Led by Mr. Gautam Thapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate leveraging its knowledge leadership and operations adding lasting value for its stakeholders and investors.
For further information contact:
Ms. Shravani Dang Mr. Zamir Khan
Group Head – Communications Assistant Manager
Avantha Group Image Inc.
e-mail: sdang@bilt.com e-mail: zamir@image-publicrelations.com
Mobile: +91-9811261080 Mobile: +91-9871150270