Explore our leadership,
board, and governance
approach

Audit committee responsibilities

Inceptial It Solutions Audit Committee has actively supported the Board in all material aspects and has fulfilled its responsibilities as per the applicable laws and regulations. Some key responsibilities of the Audit Committee are as follows:

• Review of internal controls of the company to ensure the safeguarding of the company’s assets;
• Review of annual and interim financial statements of the company, before their approval by the Board
• Facilitating the external audit and discussion with external auditors of major observations arising from interim and final audits and any matter that the auditors may wish to highlight (in the absence of management, where necessary)
• Review of management letter issued by external auditors and management’s response thereto;
• Ensuring coordination between the internal and external auditors of the company;
• Review the scope and extent of the internal audit, audit plan, reporting framework, and procedures and ensure that the internal audit function has adequate resources and is appropriately placed within the company;
• Consideration of major findings of internal investigations of activities characterized by fraud, corruption, and abuse of power and management's response thereto;
• Monitoring compliance with these Regulations and identification of significant violations thereof.
• Recommend to the Board the appointment of external auditors, their removal, audit fees, the provision of any service permissible to be rendered to the company by the external auditors in addition to the audit of its financial statements, measures for redressal and rectification of non-compliance with the Regulations.