Concurrent Audit Services
Real-time transaction review for banks, NBFCs and financial institutions — running alongside day-to-day operations, per RBI and ICAI norms, so control gaps and non-compliance are caught before they compound into a year-end finding.
Concurrent audit is a real-time, continuous audit conducted almost simultaneously with the occurrence of financial transactions — mandated by RBI for banks, and increasingly used by NBFCs and large corporates for high-risk areas like treasury, forex, credit and advances. Unlike statutory audit, which happens after year-end, concurrent audit reviews transactions as they happen, so lapses are flagged and corrected in near real time rather than discovered months later. The Classic Partners LLP conducts concurrent audits scoped to RBI's concurrent audit guidelines and your board-approved audit plan, covering high-risk branches, treasury and forex desks, and credit/advances portfolios.
Real-time review of the transactions that carry the most risk
For banks and NBFCs, concurrent audit isn't optional in high-risk areas — RBI requires a defined share of business to be covered under concurrent audit, focused on branches, treasury, forex and credit. We embed our team in your operational rhythm so exceptions are flagged the same week, not the following year.
We calibrate scope to RBI's latest concurrent audit circular and your board-approved policy, then deliver structured, actionable reports your audit committee can act on immediately.
- Branch-level concurrent audit (high-risk branches)
- Treasury and forex desk transaction review
- Credit and advances portfolio review
- Cash and clearing operations checks
- KYC/AML transaction sampling
- Weekly/monthly exception reporting to audit committee
When concurrent audit applies
Concurrent audit runs continuously, alongside operations — here's where it typically applies.
| Situation | Why it's needed | What we deliver |
|---|---|---|
| Scheduled commercial bank | RBI mandates a minimum share of business under concurrent audit | Branch & treasury concurrent audit reports |
| NBFC with high transaction volume | Real-time control testing reduces year-end audit surprises | Monthly exception & compliance report |
| Treasury / forex desk | High-value, time-sensitive transactions need near-real-time review | Daily/weekly transaction testing |
| Large corporate with high-risk cash ops | Board wants continuous assurance, not an annual snapshot | Custom concurrent audit scope |
What our concurrent audit covers
Structured around RBI's concurrent audit norms and your board-approved audit policy.
Branch Audit
High-risk branch selection and transaction-level testing per RBI norms.
Treasury Review
Real-time review of treasury operations, investments and forex deals.
Advances Testing
Sampling of credit sanctions, disbursements and documentation compliance.
KYC/AML Sampling
Transaction-level KYC and anti-money-laundering compliance checks.
Exception Reporting
Structured weekly/monthly reports flagging control gaps for the audit committee.
RBI Compliance Mapping
Scope calibrated to RBI's current concurrent audit circular and thresholds.
Our four-stage concurrent audit process
Built to run continuously, alongside your operations, not as a periodic snapshot.
Scoping & branch selection
Map high-risk branches/desks per RBI thresholds and your board policy.
Embedded testing
Our team reviews transactions concurrently, on-site or remotely, per the agreed cycle.
Exception reporting
Deviations are documented and escalated the same reporting cycle, not at year-end.
Audit committee handover
Consolidated findings presented directly to your audit committee with remediation tracking.
Concurrent audit that keeps pace with your operations
Partner-led, fixed-fee and built to plug directly into your audit committee's reporting cycle.
RBI-aligned scoping
Scope and thresholds mapped directly to RBI's current concurrent audit circular.
Fixed fee, written upfront
Scoping call, then a written quote for the full engagement — no surprises mid-cycle.
Weekly/monthly turnaround
Exception reports delivered on the cadence your audit committee needs.
Direct audit committee reporting
Findings presented directly, not filtered through multiple layers.
Cross-branch consistency
The same testing standard applied across every branch or desk in scope.
One firm, all compliance
Works alongside our internal audit and statutory audit practices.
Concurrent audit questions we're asked
Straight answers before you commission a concurrent audit engagement.
Ready to set up concurrent audit coverage?
Tell us your branches, desks and current thresholds. You'll get a fixed quote and a partner-level contact within one working day.
