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Balancing Compliance and Business • Respect: Creating an environment where
Pressures: Can Auditors Say No?
The relationship between auditors and management
is sometimes seen as adversarial, but it doesn’t have
to be. Internal Auditors are not gatekeepers who
exist to say ‘No’—they are partners in saying ‘How’.
A constructive audit function doesn’t just identify
problems—it helps solve them. The best internal
auditors understand business realities, work with
leadership teams, and find solutions that are both
compliant and commercially viable.
At Vedanta, we believe that the ethos of internal
audit should align with the organization’s broader
vision. Ethical leadership is not just about
compliance enforcement—it’s about creating a
culture where Auditors challenge constructively,
not disrupt operations and the business leaders
value audit insights, rather than viewing them as
obstacles.
The reality is that employees and leaders should
feel confident in the audit process—not fearful
of a compliance-driven culture that inhibits
business decision-making. We should encourage
ethical leadership where concerns are addressed
in a manner that promotes trust, transparency,
and corrective action, rather than unnecessary
escalations.
Building a Culture of Responsible
Auditing
At Vedanta, our commitment to world-class
governance, sustainability, and social responsibility
is deeply rooted in our core values. These values
are not just words on paper; they define our
approach to business, governance, and leadership.
We believe that an effective audit function must
align with these principles:
• Trust: Ensuring transparency in financial and
operational reporting.
• Entrepreneurship: Encouraging a proactive,
solution-oriented audit approach.
• Innovation: Adapting audit methodologies to
evolving business needs.
• Excellence: Maintaining the highest
governance and compliance standards.
• Integrity: Ensuring ethical oversight without
compromise.
INTERNAL AUDIT TODAY
business and audit collaborate, not clash.
• Care: Balancing risk mitigation with business
continuity.
By embedding these core values into our audit
culture, we ensure that risk management is not
about restrictions but about responsible and
sustainable business growth.
Final Thoughts: A Stronger Business
Through Responsible Auditing
At the heart of it, audits are not about finding faults,
they are about strengthening an organization.
A well-balanced audit function doesn’t slow
businesses down; it makes them more resilient,
agile, and prepared for the future.
For auditors, the challenge is to go beyond a
rulebook approach and truly understand business
realities. For business leaders, the challenge is
to embrace audit as a partner, not a hurdle. The
key is mutual respect and collaboration, where
governance and growth go hand in hand.
At Vedanta, we don’t see audits as an obligation,
we see them as an opportunity. An opportunity
to build a business that is not just compliant, but
one that is ethical, sustainable, and built to last.
Because in the end, the strongest organizations
are those that don’t just meet regulation, they lead
with integrity, powered by the values that define
them.
So if you ask me, can businesses and auditors work
together effectively? Yes—but only if they see each
other as partners rather than opponents, working
towards a common goal: a business that is ethical,
compliant, and successful.
About the author: Mr. Swapnesh Bansal is currently
the Chief Financial Officer of Iron Ore Business
of Vedanta Limited. A Chartered Accountant by
profession, he has been an integral part of Vedanta
Group since 2005, bringing 20 years of diverse
experience. Over the years, he has held key leadership
positions across the group companies. Outside the
work, he enjoys playing football and reading.
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