Call For Business Enquiries : +91 97650 00966 / +91 98190 00511 / +91 98218 32683
Call For Business Enquiries : +91 97650 00966 / +91 98190 00511 / +91 98218 32683
Concurrent Audit · Panaji, Goa
Real-time transaction examination, irregularity detection, and continuous audit assurance for banks, NBFCs, and cooperative societies in Goa.
Overview
Concurrent audit is the most time-sensitive form of audit — examining transactions as they occur rather than months after the fact. For bank branches, NBFCs and cooperative societies in Goa, it is either mandatorily required or a critical management control.
N D Savla & Associates provides concurrent audit services covering cash and banking transactions, loan and advance disbursements, KYC/AML compliance, sanctioned limits, and RBI guideline compliance. This connects with our internal audit, statutory audit, revenue audit, and risk control matrix services.
📌 Concurrent audit is not a substitute for statutory or internal audit — it is a complementary, real-time assurance mechanism that must operate alongside them.
Who needs this
From mandatory bank-branch coverage to voluntary management controls for high-volume businesses.
Mandatorily required above specified business levels — daily transactions, cash and vault management, loan disbursements, KYC compliance.
Loan disbursement authorisation, repayment tracking, KYC/AML compliance, and adherence to RBI prudential guidelines.
Member transactions, loan portfolio, cash management and compliance with cooperative legislation and RBI guidelines.
High-volume cash or banking businesses commission concurrent audit as a management control even where not mandatory.
What's covered
From daily cash checks to KYC/AML and limit adherence.
Get a fixed-fee quote →Verifying authorisation, limit compliance and documentation against laid-down procedures and RBI guidelines.
Disbursement authorisation, documentation completeness, end-use restrictions, and early identification of irregular accounts.
Examining new account KYC documentation, flagging insufficient due diligence, and reviewing large or unusual transactions.
Adherence to drawing power, sanction and credit limits, with real-time reporting of breaches for correction.
Daily flash reports, weekly summaries, or monthly comprehensive reports as specified in the audit mandate.
Frequently asked questions
Concurrent audit examines transactions in real time — as they occur — reporting to management for immediate corrective action. Statutory audit reviews annual financial statements, reporting to shareholders and regulators.
Bank branches above specified business levels, NBFCs above certain asset sizes, cooperative banks, and large cooperative societies typically require it — either mandatorily under RBI guidelines or as a management control.
Daily cash and banking transactions, loan and advance disbursements, KYC and AML compliance, adherence to sanctioned limits, and compliance with RBI guidelines and internal policies.
Concurrent audit examines transactions as they occur, providing real-time assurance. Internal audit is periodic — examining samples of past transactions and assessing process quality.
Reports are submitted to management at the agreed frequency — daily flash reports, weekly summaries, or monthly comprehensive reports — covering transactions examined, exceptions found and rectification status.
Related services
Book a free consultation with a qualified Chartered Accountant. We'll scope the mandate and get a CA team on site.
N D Savla & Associates | ndsavla.co.in | +91 97650 00966 | info@ndsavla.co.in