The Classic Partners LLP
Concurrent Audit Services
Ongoing, real-time audit of transactions, primarily for bank branches and financial institutions. We help catch errors and irregularities as they happen, not months later.
Engage a Concurrent AuditorWhat is Concurrent Audit?
Concurrent audit is a continuous, near-real-time examination of transactions, most commonly at bank branches, to ensure they comply with internal policies, RBI guidelines, and regulatory norms.
Unlike a year-end audit, it runs alongside operations so issues are detected and corrected promptly. We provide experienced teams to review advances, deposits, KYC, and high-value transactions on an ongoing basis.
Who Needs Concurrent Audit?
- Bank branches under concurrent audit requirements.
- Co-operative banks and financial institutions.
- NBFCs seeking continuous transaction assurance.
- Organisations wanting real-time financial control.
Our Concurrent Audit Services
Transaction Review
Daily or periodic checking of key transactions.
Advances Audit
Verification of loans, limits, and documentation.
KYC & Compliance
Checking KYC, AML, and regulatory adherence.
Income Leakage
Identifying missed charges and revenue leakage.
Reporting
Regular reports to management with action points.
Follow-Up
Tracking closure of flagged issues.
Why Choose The Classic Partners
- Qualified Chartered Accountants with hands-on audit and assurance experience.
- End-to-end support — from documentation and verification to final reporting.
- Timely delivery so you meet statutory and lender deadlines without stress.
- Transparent fees and a single dedicated point of contact.
Frequently Asked Questions
How is concurrent audit different from statutory audit?
Concurrent audit is continuous and runs alongside operations to catch issues in near real time, whereas statutory audit is a periodic, year-end examination of financial statements.
What does a concurrent auditor check at a bank branch?
Typically advances and loan documentation, deposits, KYC and AML compliance, income recognition, high-value transactions, and adherence to internal and RBI guidelines.
How often is concurrent audit performed?
It is ongoing, with reviews conducted daily, weekly, or monthly depending on transaction volume and the institution's requirements.
Can concurrent audit reduce fraud?
Yes. Continuous review increases the chance of detecting errors, irregularities, and potential fraud early, allowing prompt corrective action.
Do you provide trained concurrent audit teams?
Yes. We deploy experienced staff familiar with banking operations and regulatory requirements, with clear reporting to management.
Need a Concurrent Audit team?
Get continuous, real-time transaction assurance from experienced auditors.
Contact Us