Internal Auditor

Key Responsibilities

1. Financial & Transaction Audits

 Review fee collections, patient billing, grants, donations, and endowments.

 Verify accuracy of student fee concessions, scholarships, and refunds.

 Audit hospital billing, pharmacy sales, diagnostics, and insurance claims.

 Examine bank reconciliations, cash handling, and revenue leakages.

2. Statutory & Regulatory Compliance

 Ensure compliance with applicable laws and regulations, including:

o Income Tax Act (including Sections 10(23C), 11, 12, 13)

o GST applicability and exemptions

o Trust Act / Societies Registration Act

o Companies Act (where Section 8 entities exist)

o UGC / AICTE / NMC / State Health & Education Department regulations

 Monitor compliance with grant conditions, donor agreements, and government

funding norms.

 Review TDS, professional tax, PF, ESI, and other labour law compliances.

3. Operational & Process Audits

 Review admission processes, seat allocation, fee approvals, and refunds.

 Audit procurement of medicines, consumables, equipment, and services.

 Verify inventory controls for:

o Pharmacy stock

o Medical consumables

o Laboratory reagents

o Hostel and mess supplies

 Review payroll, consultant payments, visiting faculty fees, and incentive

structures.

4. Asset & Infrastructure Audits

 Verify capitalization, usage, and safeguarding of:

o Buildings, hostels, hospitals, laboratories

o Medical equipment and IT assets

 Review asset procurement, AMC contracts, and disposals.

 Audit of construction projects, BoQs, contractor bills, and work certifications.

5. Governance & Risk Management

 Evaluate internal controls over:

o Related party transactions

o Conflict of interest

o Delegation of authority

 Identify financial, compliance, reputational, and operational risks.

 Support fraud risk assessment, prevention, and detection mechanisms.

6. Audit Reporting & Follow-up

 Prepare risk-based internal audit plans.

 Draft detailed internal audit reports with:

o Observations

o Risk rating

o Root cause analysis

o Practical and implementable recommendations

 Track management action plans and closure of audit observations.

7. Advisory & Support Functions

 Assist management in strengthening SOPs, policies, and control frameworks.

 Support statutory auditors, tax auditors, and regulatory inspections.

 Provide advisory inputs on:

o Fee structures

o Grant utilization

o Hospital billing controls

o ERP / HIS / Student Information Systems implementation

Key Deliverables

 Internal Audit Plan

 Internal Audit Reports

 Compliance & Regulatory Status Reports

 Grant Utilization & Donor Compliance Reports

 Follow-up & Closure Reports

Skills & Competencies Required

 Strong understanding of trust accounting and fund-based accounting

 Knowledge of education and healthcare regulations

 Analytical mindset and attention to detail

 Ability to deal with multiple stakeholders (faculty, doctors, administrators)

 High ethical standards and confidentiality

 Proficiency in Tally ERP , MS Excel