Concurrent Audit Services
Concurrent audit is about catching issues as they happen—not after the damage is done. At PKJN & Associates LLP, we provide real-time audit and monitoring services that strengthen controls, reduce risks, and ensure ongoing compliance across your operations.
What is Concurrent Audit?
Concurrent audit is a continuous review process where transactions and operations are examined on an ongoing basis rather than after the financial period ends. It is widely used in banking, NBFCs, and large organizations to ensure immediate detection of errors, irregularities, and compliance gaps.
Unlike traditional audits, concurrent audit works alongside your operations, providing timely insights and corrective actions.
Where Concurrent Audit Adds Real Value
- Early detection of errors and irregular transactions
- Continuous monitoring of high-risk areas
- Strengthening of internal control systems
- Reduction in fraud and financial leakages
- Improved compliance with internal policies and regulations
Our Concurrent Audit Services
Transaction-Level Audit
Ongoing verification of financial transactions to ensure accuracy and compliance.
Bank & NBFC Concurrent Audit
Specialized audit services for banking operations, loan processing, and regulatory compliance.
Revenue & Expense Monitoring
Continuous review of income and expense transactions to detect anomalies.
Compliance Monitoring
Ensure adherence to internal policies, RBI guidelines, and statutory requirements.
Fraud Detection & Prevention
Identify suspicious patterns and control weaknesses in real time.
Reporting & Corrective Action
Provide timely reports with actionable recommendations for immediate correction.
Our Approach
We integrate our audit process with your daily operations to ensure continuous oversight without disruption. Our approach focuses on high-risk areas, transaction testing, and real-time reporting.
- Identify key risk areas and critical processes
- Define audit scope and frequency
- Conduct ongoing transaction reviews
- Report findings with immediate corrective recommendations
- Track closure of observations and improvements
Why Concurrent Audit is Critical
- Prevents accumulation of errors and compliance issues
- Enhances transparency and accountability
- Strengthens governance and control environment
- Supports management with real-time insights
- Builds confidence among regulators and stakeholders
Who Needs Concurrent Audit?
Concurrent audit is essential for banks, NBFCs, financial institutions, and businesses with high transaction volumes or complex operations. It is also valuable for companies looking to strengthen internal controls and minimize operational risks.
