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PSU Meet : Future of Internal Audit in

Public Sector, Delhi Branch

The PSU Forum of IIA India – Delhi Branch hosted a prestigious PSU Meet on February 19, 2025, at
India Habitat Centre, New Delhi. Focused on ‘Future of Internal Audit in Public Sector: Emerging
Trends,’ the event brought together 150+ delegates from 15+ PSUs for insightful discussions on
governance, risk management, data analytics and audit strategies.

The event commenced with the National Anthem and ceremonial lamp lighting by dignitaries,
including Dr. Amar Patnaik (Former MP, Rajya Sabha), Anuj Jain (Director - Finance, IOCL),
Rakesh Kumar Jain (Director - Finance, GAIL), Saurav Mitra (Chairperson, PSU Forum) and Sana
Baqai (President, IIA India – Delhi Branch).

The keynote address by Dr. Amar Patnaik emphasized governance reforms and evolving audit
expectations, while Anuj Jain’s theme address and Rakesh Kumar Jain’s special address highlighted
the critical role of Internal Audit in financial transparency and operational resilience.

Key Panel Discussions:

• “The Evolving Role of Internal Audit in PSUs” – It explored how Internal Auditors in public sector
enterprises are adapting to emerging risks, regulatory changes and technological advancements.
Featuring Aniruddha Banerjee (Chief Internal Audit, ONGC), Gita Rani (Chief Internal Auditor,
NBCC), Deepika Sharma (DGM Finance/IA & CFO, National Textile Corporation Ltd.) and
Ajay Kumar Mohanty (Head Internal Audit, PNB Housing Finance Ltd.), moderated by Gaurav
Bhatia (ASA & Associates LLP).
• “Leveraging Data Analytics & AI for Effective Audits” delved into how emerging technologies
are transforming the audit landscape. It was led by Yukti Arora (CEO & Co-Founder, Aumyaa
Consulting Services) and Shailesh Churiwala (Partner, World V).
• “Fraud Prevention & Ethical Auditing” explored strategies to mitigate fraud risks and uphold
ethical standards in public sector audits. Featuring Rajiv Singh (Senior Partner, ASC & Associates
& Co-founder, RS Valuation Services), Jyoti Dua (Executive Director, GAIL India Ltd.), CMA
Sanjay Gupta (Past President, ICMAI) and Surath Mukherjee (Director – Head of Audit, BCCL,
Times Group), moderated by Sumant Chaddha (Managing Partner, T R Chadha & Co LLP).
• “Risk-Based Internal Audit” – delved into the critical role of risk-aligned auditing in strengthening
governance and compliance within PSUs. Featuring Nikhel Kochhar (Senior Partner, JHS
& Associates LLP) and Harish Dua (Advisor – FAIS (DAAB) & Internal Audit, IASB-ICAI),
moderated by Monish Gaurav Chatrath (Managing Partner, MGC Global Risk Advisory).

A unique session, “Governance in Life – Astrologically,” by Sidheshwar Bhalla (Immediate Past
President, IIA India), explored governance through astrological insights.The event reinforced internal
audit’s evolving role in PSUs, emphasizing data-driven insights, ethical governance and risk-based
auditing, empowering professionals with strategies for audit excellence.

61 INTERNAL AUDIT TODAY