Conducting Internal Audit: Cement Industry

Abstract

Cement is, by far, the most organic element of infrastructural development. Massive initiatives for infrastructural enhancements through multiple long term plans played critical role in intensifying demand of cement. The magnificent growth story has not yet yielded its maturity signifying the immense potential for mammoth investment. Presence of multiplicity of investors both Indian and multinational, escalated the issue of competitive edge to, be sustainable in industry. The everlasting prominence of governance and risk continues to critical in dealing with matters like protection of investors and cost rationalization.

The institution and application of contemporary Internal Audit tools can fasten the achievement of strategic milestones in managing multitudes of issues relating to governance and risk. The intent of this research lies in sincerely realizing and applying the basic nuances of the cement industry and activities; which calls for adequate control and how to exercise the same in different entities. The activity-wise 'check lists' are provided as ready reference to conduct the audit.

It is our utmost endeavour to present this paper to a variety of readers who can actively implement the propositions enumerated here in their own domain.