Real-time Examination Risk Control Compliance

Concurrent Bank Audit

Systematic, real-time examination of financial transactions, processes, and controls carried out simultaneously with operations to strengthen banking compliance.

Overview Coverage Process
Audit Meeting
Data Analysis
Documentation

Overview Systematic Review

Concurrent Audit is conducted to strengthen banking compliance, prevent operational lapses, and detect early risks. It is a parallel examination of financial transactions carried out alongside daily operations.

By verifying transactions in real-time, we help improve control systems and ensure adherence to regulatory guidelines, significantly reducing the window for fraud or error.

Audit Overview
Risk Detection Systematic Control

What's Included Scope of Work

Comprehensive coverage to ensure total operational integrity.

Transaction verification

Real-time checking of high-value and routine transactions.

KYC & AML compliance review

Ensuring all account openings meet regulatory standards.

Loan disbursement & monitoring

Verifying end-use of funds and documentation prior to release.

Revenue leakage identification

Detecting uncollected charges or income leakage.

NPA Monitoring

Early identification of stress signals in banking client accounts.

Regulatory compliance testing

Adherence to RBI guidelines and internal bank policies.

Process Flow Methodology

A structured approach to continuous auditing.

1

Bank branch study & risk profiling

Understanding specific branch operations and inherent risks.
2

Daily transaction review

On-going verification of the day's financial activities.
3

Compliance framework testing

Checking adherence to KYC, AML, and Forex guidelines.
4

Exception reporting

Immediate flagging of irregularities to branch management.
5

Monthly audit summary & insights

Submission of final reports in the bank-specified format.

Deliverables Reports

Tangible outcomes of the audit engagement.

Concurrent audit reports (Per bank format)
Exception register
Compliance deviation notes
Corrective action recommendations

Who Needs It Target Sector

Banks & NBFCs

Mandatory for risk control and regulatory adherence.

Investment Firms

Handling high-volume financial transactions daily.

Large Retailers & Hospitals

Businesses with high operational risk and cash flow.

Manufacturing Units

Entities with complex inventory and financial controls.

Strengthen your branch operations

Expert Concurrent Audit support to minimize statutory auditor comments.

FAQ

Quick Answers