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