Concurrent audit
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Concurrent audit
Concurrent Audit Services – Strengthening Real-Time Financial Control
Concurrent Audit is a systematic, real-time examination of financial transactions to ensure compliance, accuracy, and timely detection of irregularities. Primarily used in the banking and financial sector, it helps institutions monitor critical operations continuously and take corrective action immediately, reducing the risk of fraud and operational errors.
As per the Reserve Bank of India (RBI) guidelines, Concurrent Audit is mandatory for various banking operations, especially in branches handling high volumes of transactions or sensitive functions like forex, treasury, and loans.
Our Concurrent Audit Services
We offer professional Concurrent Audit services for:
🏦 Banks and NBFCs – covering core banking operations, loans, advances, cash transactions, and investment portfolios
🏢 Corporates and Institutions – for internal monitoring of financial transactions, purchases, payroll, and compliances
💳 Digital & Payment Services – including audits of online banking, UPI, credit/debit transactions, and e-KYC processes
Scope of Work
Transaction verification (cash, loans, forex, investments)
Interest rate checks and documentation review
KYC/AML compliance monitoring
Verification of internal controls
Reporting of revenue leakage and control failures
Submission of real-time audit reports with red flags and recommendations
Why is Concurrent Audit Important?
Timely Detection: Identifies irregularities and compliance breaches in real time, reducing financial risk.
Regulatory Compliance: Helps banks and NBFCs adhere to RBI guidelines and other statutory requirements.
Operational Efficiency: Enhances transparency and strengthens internal control systems.
Fraud Prevention: Minimizes chances of fraudulent activities by continuous monitoring.
Improved Reporting: Facilitates quick corrective actions through detailed audit reports.