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Strong internal financial controls (IFC) are the backbone of good governance, transparency, and risk management in any organization. As regulatory scrutiny increases and stakeholders demand more accountability, mastering IFC is no longer optional—it’s essential.
In this comprehensive guide, we explore the framework, implementation strategy, and best practices for setting up and monitoring Internal Financial Controls under the Companies Act, 2013. Whether you're a CFO, compliance officer, or audit professional, this resource provides valuable insights to strengthen your organization’s financial ecosystem.
Legal and regulatory framework governing IFC in India
Responsibilities of the Board, Audit Committee, and Management
Steps to design and document effective IFC systems
Common challenges and how to overcome them
Sample risk control matrices and process checklists
Insights from recent case laws and regulatory trends
Non-compliance with IFC provisions can lead to reputational damage, penalties, and audit qualifications. This guide equips businesses with the tools to not only stay compliant but also unlock efficiencies, reduce fraud risks, and ensure data integrity in financial reporting.
Download the full publication below and take a step toward smarter governance.
The contributors to the Article are Sumit Mahajan, AccuWiz Consulting LLP along with inputs from Hemant Mishra.
Disclaimer: The content/information is only for general information of the user and shall not be construed as legal advice. The facts stated are based on information available in public domain. Views expressed above are personal.