Why Internal Financial Control Matters
In today’s regulatory environment, Internal Financial Control (IFC) is more than a compliance requirement, it is the backbone of sound financial governance. IFC ensures that a company’s financial reporting is reliable, its assets are safeguarded, and its operations run with integrity. Under Section 134(5)(e) of the Companies Act, 2013, company directors are responsible for establishing and maintaining adequate IFC systems. Meanwhile, under Section 143(3)(i), auditors are required to report on their effectiveness independently during the Internal Financial Control Audit process.
At Taxlegit, we help businesses design, document, and implement robust IFC frameworks that meet audit standards, regulatory requirements, and stakeholder expectations. Our IFC solutions bring structure, discipline, and transparency to financial processes across procurement, sales, HR, payroll, inventory, and accounting functions.
At Taxlegit, we help businesses design, document, and implement robust IFC frameworks that meet audit standards, regulatory requirements, and stakeholder expectations. Our IFC solutions bring structure, discipline, and transparency to financial processes across procurement, sales, HR, payroll, inventory, and accounting functions.
Industries We Serve
Our Internal Financial Control (IFC) setup services cater to a wide range of industries and business models. Every organization faces different operational risks, so we tailor our approach to suit your specific structure, systems, and compliance needs.
Manufacturing and Trading
Strengthening purchase, production, and inventory controls to ensure accuracy in costing and financial reporting.
IT and Professional Services
Implementing process-level controls for revenue recognition, project billing, and employee expense management.
Startups and Private Limited Companies
Helping emerging businesses build scalable control frameworks that support audits, investor due diligence, and funding rounds.
NGOs and Section 8 Entities
Designing transparent financial control systems for grant management, donor reporting, and compliance with CSR regulations.
Real Estate and Infrastructure
Managing high-value transactions and project-based accounting through robust authorization and monitoring controls
Each IFC engagement is customized to fit your industry risk profile, ERP system (Tally, SAP, Zoho, QuickBooks), and operational complexity.