Concurrent Audit Services
Continuous Financial Monitoring for Stronger Compliance
Businesses and financial institutions handle large volumes of transactions every day. Without regular monitoring, errors, irregularities, or compliance issues can go unnoticed until it’s too late.
Concurrent audit is a real-time auditing process that helps organizations review financial transactions on an ongoing basis instead of waiting until the end of the year.
At N D Savla & Associates, we provide professional Concurrent Audit services to ensure that financial transactions, internal controls, and operational processes are reviewed continuously, helping organizations maintain accuracy, transparency, and regulatory compliance.
What is Concurrent Audit?
Concurrent audit is a system of continuous examination of financial transactions and operational processes. Unlike traditional audits that review records after the financial year ends, concurrent audit is conducted simultaneously with business operations.
The objective is to identify errors, non-compliance, or operational risks at an early stage so corrective action can be taken immediately.
Concurrent audits are widely used by:
- Banks and financial institutions
- NBFCs and lending institutions
- Large corporations
- Government organizations
- Companies with high transaction volumes
Objectives of Concurrent Audit
- Early detection of errors or irregularities
- Monitoring compliance with policies and regulations
- Ensuring accuracy in financial transactions
- Reviewing operational efficiency
- Preventing fraud or financial mismanagement
- Improving internal control systems
Scope of Concurrent Audit
Regular reporting ensures that management receives timely feedback on operational and financial issues.
Our Concurrent Audit Services
- Continuous review of financial transactions
- Examination of internal control systems
- Verification of supporting documentation
- Monitoring compliance with regulatory requirements
- Reporting observations and recommendations
- Identifying operational risks and irregularities
- Assisting management with corrective actions
Our audit approach focuses on accuracy, transparency, and proactive risk identification.
Benefits of Concurrent Audit
F.A.Q.
The purpose of concurrent audit is to review financial transactions continuously and detect errors, irregularities, or compliance issues at an early stage.
A statutory audit is conducted after the financial year ends, while concurrent audit is carried out during the financial year alongside business operations.
Concurrent audits are commonly required by banks, financial institutions, NBFCs, large companies, and organizations handling high transaction volumes.
Concurrent audit is usually conducted regularly throughout the year, depending on the size and nature of the organization’s operations.
Common areas include transaction verification, compliance checks, documentation review, internal control assessment, and risk monitoring.
Yes. Since transactions are reviewed on an ongoing basis, irregularities and potential fraud risks can be identified much earlier compared to traditional audits.
