Mahajan & Aibara

What Mahajan & Aibara does

Mahajan & Aibara is a privately held Indian Limited Liability Partnership (LLP) founded in 1979 and headquartered in Mumbai, specializing in internal audit, risk management, IT security, fraud prevention and forensics, and financial advisory services. The firm serves India's largest corporate houses, blue-chip enterprises, Fortune 500 companies, multinational corporations, and public and private companies in India and across the globe, spanning manufacturing, financial services and capital markets, and the services sector. Every client is served directly by partner-level professionals, with services delivered through fully outsourced or co-sourced internal audit models tailored to each client's risk and control environment.

The firm's core technology stack centers on a proprietary methodology called Risk Based Integrated Internal Audit™, aligned with COSO and IIA standards, and supported by a Cloud-Based Audit Tool for centralized planning, review, execution, and reporting. A 40-year curated knowledge database of risks, compliance standards, and controls, combined with big data analytics, statistical analysis, machine learning, and predictive modeling, powers continuous auditing and population-level analyses. Modular service lines include ESG Consulting, Cyber Risk Advisory, IT Control Review, Compliance Services (covering SOX, GDPR, SEBI, DPDP Act), Internal Financial Controls, and Forensic Data Analysis with anomaly detection capabilities.

The business model is professional services revenue generated through engagement-based consulting under both fully outsourced and co-sourced models, with pricing not publicly disclosed and customized to each client. The firm operates through a direct, partner-driven enterprise sales motion targeting CFOs, Chief Enterprise Architects, Heads of Audit, CIOs/CTOs, audit committees, and promoters. Marketing relies primarily on thought leadership, professional reputation, alumni networks, and direct client relationships rather than paid channels. The firm is led by founding Senior Partner Mohan Mahajan alongside Senior Partner Mrugesh C. Shah, with a Partner & CEO of Forensic Services (Shashank Karnad) and a broader leadership team across internal audit and forensics practices.

Name

Mahajan & Aibara

Legal name

Mahajan & Aibara LLP

Website

https://mahajanaibara.com

Company type

Private

Founded year

1979

Operating status

Operating

Headcount range

251–500 employees

Short description

Mahajan & Aibara is a Mumbai-based, privately held Indian LLP founded in 1979 specializing in internal audit, risk consulting, IT security, fraud prevention, and financial advisory for India's largest corporates, Fortune 500 firms, and MNCs.

Ownership category

akta.pro rank

Product category

Risk Consulting and Internal Audit Services

NAICS

Other Scientific and Technical Consulting Services (54169), Professional, Scientific, and Technical Services (54)

SIC

Services-Management Consulting Services (8742), Services-Engineering, Accounting, Research, Management (8700)

akta.pro primary industry

Risk, Compliance & Internal Controls Consulting (BPAHACAJ)

akta.pro secondary industries

Enterprise Risk Management (ERM) Advisory (BPAHAFAA), Fraud Risk & Financial Crime Controls Advisory (BPAKADAL), Enterprise Security Strategy & Program Advisory (BPAKADAA), Data, Analytics & AI Consulting (BPAHAEAF)

Keywords

• Internal audit services
• Risk consulting
• Fraud forensics
• IT security advisory
• Enterprise risk management

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Risk Consulting and Internal Audit Services: Professional services revenue generated through engagement-based consulting engagements. Services include risk management, IT security, fraud prevention, forensics, and financial advisory. Offered through fully outsourced or co-sourced engagement models.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Mahajan & Aibara is a partner-led risk consulting and internal audit firm delivering fully outsourced and co-sourced internal audit engagements. Core offerings span Risk Management, IT Security & Advisory, Fraud Prevention & Forensics, and Financial & Business Advisory, supported by a proprietary Risk Based Integrated Internal Audit™ methodology, a cloud-based audit tool, and a four-decade knowledge database. Services are tailored to each client and delivered directly by partner-level professionals to Fortune 500, MNC, and large Indian corporate clients.

Product overview

Mahajan & Aibara is a consulting firm (not a software product company) offering Internal Audit & Risk Consulting services since 1979. The core offering is a unified consulting practice centered on Risk Management, supplemented by specialized service lines in IT Security & Advisory, Fraud Prevention & Forensics, Financial & Business Advisory, and Compliance Services. The portfolio includes proprietary tools (Cloud-Based Audit Tool, Excel-based automation tools) and methodology (Risk Based Integrated Internal Audit™) that power their service delivery. Data Analytics Services, Cyber Risk Advisory, IT Control Review, ESG Consulting, and Internal Financial Controls serve as modular add-on services that integrate with the core risk management and internal audit offerings. The firm leverages extensive knowledge databases and big data analytics capabilities to deliver industry-specific insights and benchmarks.

Differentiator

Problem solved

Functional benefit

Products and services

• Risk Management Comprehensive risk management consulting including the proprietary Risk Based Integrated Internal Audit™ methodology, Enterprise Risk Management Framework, Corporate Governance Framework, and Business Process Design & Systems Architecture. Designed for enterprises needing COSO/IIA-aligned risk-based internal audits, internal controls enhancement, and policy alignment.
• IT Security & Advisory IT consulting covering IT risk assessment, strategic IT planning, IT policy design, ISO 27001 implementation support, ERP implementation support, IT Control Review, Cyber Risk Advisory, and Data Protection Act compliance. Targeted at enterprises needing IT governance and cybersecurity oversight.
• Fraud Prevention & Forensics Forensic investigation services including fraud assessment, computer forensics (disk imaging, data recovery, keyword search), forensic data analysis, dashboards, and advanced analytics to identify fraud-prone areas and investigate misconduct. For organizations exposed to fraud, regulatory non-compliance penalties, and commercial disputes.
• Financial & Business Advisory Strategic advisory for acquisitions, valuations, modeling, and due diligence. Includes financial, commercial, human resources, and secretarial due diligence; strategic fit analysis; risk factor identification; and post-acquisition integration guidance. For corporate acquirers and boards undertaking transactions.
• Data Analytics Services Data-driven insights service employing big data analytics, statistical analysis, machine learning, and predictive modeling, including data collection, cleansing, integration, visualization, and interpretation. Supports trend analysis, continuous auditing, and population-level analyses for clients.

Quantifiable outcome

• 500+ companies served across India and globally
• +2 more outcomes

Named customers1 record

Segments6 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature4 records

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Market position

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/Mahajan-Aibara-300384160157782

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mahajan & Aibara