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ICAI Registered · RBI-Aligned · 15+ Years

Catch Issues While You Can Still Fix Them — Concurrent Audit

Statutory audit looks back once a year. Concurrent audit reviews your transactions as they happen — so errors, fraud, non-compliance, and revenue leakage are caught and corrected in real time. RBI-aligned coverage for banks, NBFCs, and high-volume businesses.

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Our Concurrent Audit at a Glance

15+Years of audit & assurance experience
6Core concurrent audit coverage areas
100%RBI / SEBI-aligned audit methodology
8+Sectors served across Mumbai & pan-India
15+ Years of Experience
75+ Team Members
6 Coverage Areas
100% Compliance Accuracy

What Is Concurrent Audit

Concurrent Audit Catches Problems While You Can Still Fix Them.

By the time a statutory audit flags an issue — an unauthorised disbursement, a KYC gap, a mis-calculated charge — the transaction is months old and the damage is done. Concurrent audit closes that gap.

It's the systematic, ongoing examination of transactions as they occur or shortly after — so problems are identified and corrected in real time, not at year-end. That's why the RBI mandates concurrent audit for banks, and why NBFCs, co-operative banks, brokers, and high-volume businesses increasingly rely on it too.

At PKJN & Associates LLP, our concurrent audit is a live control layer over your operations — complementing the annual assurance provided by our Audit & Assurance practice and the control documentation in our Risk Control Matrix work.

What Concurrent Audit Covers

  • ✔ Advances & credit — sanction, documentation, disbursement, NPA
  • ✔ Cash, deposits & daily transaction verification
  • ✔ KYC, AML & regulatory compliance (RBI / SEBI)
  • ✔ Revenue & income leakage — interest, fees & charges
  • ✔ Treasury, forex & investment operations
  • ✔ Reconciliations & house-keeping review
  • ✔ Real-time exception reporting to management
  • ✔ Follow-up on rectification & escalation

Our Coverage

Six Core Areas of Our Concurrent Audit

Coverage is tailored to your sector, transaction volume, and regulator — with a strong focus on the high-risk areas where errors and leakage are most likely.

01

Advances & Credit Monitoring

We verify loan sanctions against terms, check documentation and security creation, confirm disbursement and end-use, and review asset classification and provisioning — the highest-risk area in any lending institution.

Credit Risk
02

Cash, Deposits & Transactions

We review cash management, deposit operations, and day-to-day transactions for accuracy, authorisation, and adherence to procedure — catching irregularities in the areas that move fastest and highest in volume.

Daily Operations
03

KYC, AML & Regulatory Compliance

We check customer due diligence, monitoring of suspicious transactions, and adherence to RBI, SEBI, and other regulatory norms — the compliance failures that attract penalties and reputational damage.

Regulatory
04

Revenue & Income Leakage Review

We check that interest, commission, processing fees, and charges are correctly applied and recovered. Across high volumes, small under-recoveries add up fast — plugging them often more than pays for the audit.

Revenue Protection
05

Treasury, Forex & Investments

We review treasury deals, foreign exchange transactions, and the investment portfolio for adherence to limits, valuation, settlement, and regulatory norms — the areas where a single error can be material.

Treasury Risk
06

Exception Reporting & Feedback

Issues are flagged as they arise, not buried in a year-end report. We provide real-time exceptions plus consolidated periodic reports to your management and audit committee, and track every item to closure.

Reporting

How We Work

Our Four-Phase Concurrent Audit Process

A structured, ongoing cycle — from defining coverage to closing out every exception — designed to give management continuous assurance.

1

Scoping & Coverage Planning

We agree the units, branches, and high-risk areas to cover, the audit frequency, and the checklists — aligned to your regulator's requirements and risk profile.

2

Ongoing Transaction Review

Our auditors examine transactions concurrently — daily, weekly, or monthly by volume — testing accuracy, authorisation, documentation, and compliance.

3

Exception Flagging & Reporting

Irregularities are flagged in real time and compiled into periodic reports, so management sees issues while they can still be acted on.

4

Follow-up & Closure

We track rectification of every flagged item, escalate unresolved issues, and report status to management and the audit committee.

Why Choose PKJN

Real-Time Assurance, Not a Retrospective Report

The value of concurrent audit is speed — issues caught today can be fixed today. Our teams are trained to spot irregularities quickly, flag them clearly, and follow them through to closure, so your controls actually improve over time rather than just being observed once a year.

As a Mumbai-based CA firm with 15+ years across audit, risk advisory, and regulatory compliance, we bring deep familiarity with RBI and SEBI expectations to every engagement.

Real-time, not retrospective

Issues caught and corrected as they happen — not months later

Deep regulatory knowledge

RBI & SEBI norms applied correctly to your sector and operations

Revenue protection

Income leakage identified and plugged — often paying for the audit itself

Multi-branch consistency

Standardised methodology & consolidated reporting across all units

15+Years of CA Experience in Mumbai
75+Team Members
100%RBI / SEBI-Aligned Methodology
8+Sectors Served Across India

Who We Serve

Concurrent Audit Across the Financial & High-Volume Sectors

Every engagement is tailored to your regulator, transaction profile, and the areas where real-time control matters most.

🏦

Commercial Banks

RBI-mandated branch concurrent audit across advances, deposits & forex

💳

NBFCs

Credit, disbursement & compliance review under scale-based regulation

🏛️

Co-operative & Urban Banks

Transaction & compliance monitoring aligned to RBI norms

📈

Stock Brokers & DPs

Function-level concurrent review aligned to SEBI requirements

🛡️

Insurance Companies

Premium, claims & investment transaction review

📱

Fintech & Payments

High-volume transaction, settlement & compliance monitoring

🏭

Large Manufacturing & Trading

Procurement, billing & treasury review for high transaction volumes

🛒

E-commerce & Retail Chains

Multi-outlet cash, revenue & reconciliation monitoring

Related Services

Complete Audit & Compliance Coverage

Concurrent audit works best as part of an integrated assurance strategy. Explore our related services from PKJN & Associates LLP.

Audit & Assurance

Statutory, tax & internal audits conducted with professional diligence and complete documentation.

Explore Service

Risk Advisory Services

Forward-looking risk identification, internal controls & fraud prevention frameworks for a resilient business.

Explore Service

Risk Control Matrix (RCM)

Structured documentation of risks, controls & test procedures for ongoing monitoring and governance.

Explore Service

IND AS Implementation

Transition support & technical guidance for Indian Accounting Standards adoption and financial reporting.

Explore Service

FAQs

Common Questions About Concurrent Audit

Answers for banks, NBFCs, brokers, and management teams considering concurrent audit services in Mumbai.

Still Have Questions?

Our concurrent audit team is available for a free initial consultation. No obligation — just clarity on coverage, frequency, and what it will catch.

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Statutory audit is periodic and retrospective — it examines transactions once a year, after they've already occurred. Concurrent audit is continuous and near-real-time: transactions are examined as they happen or shortly after, so errors, fraud, non-compliance, and revenue leakage are caught while they can still be corrected. The two are complementary — concurrent audit strengthens day-to-day control, while statutory audit provides the annual independent opinion.
Yes. The Reserve Bank of India requires banks to operate a concurrent audit system as part of their internal control framework. The coverage — which branches and areas, and how much of the bank's advances and deposits are covered — is decided by the bank's audit committee within RBI's guidelines, with a strong focus on high-risk areas. We conduct RBI-aligned concurrent audits for bank branches and scale coverage to your requirements.
Concurrent audit is most established in banks, where it's required by the RBI. Beyond banks, it's widely adopted by NBFCs (increasingly so under scale-based regulation), urban and co-operative banks, stock brokers and depository participants for specific functions under SEBI norms, insurers, and any business with high transaction volumes where real-time control matters. We assess whether concurrent audit is required or advisable for your organisation.
For a bank or NBFC, concurrent audit typically covers advances and credit (sanction, documentation, disbursement, end-use, and NPA classification), cash and deposit operations, KYC and AML compliance, treasury and forex transactions, investments, income and revenue leakage, reconciliations, and regulatory compliance with RBI or SEBI norms. The scope is tailored to your risk profile and the regulator's requirements.
Revenue leakage happens when interest, commission, processing fees, or charges are wrongly calculated, waived, or simply missed — small errors that add up to significant amounts across high transaction volumes. Concurrent audit reviews these on an ongoing basis, flagging under-recoveries as they occur so they can be corrected promptly. For many clients, plugging revenue leakage more than covers the cost of the audit itself.
Concurrent audit is, by definition, ongoing — auditors review transactions continuously or at close intervals rather than once a year. In practice this usually means an auditor present at, or reviewing, the unit on a daily, weekly, or monthly basis depending on transaction volume and risk, with exception reports and a consolidated report submitted periodically (often monthly and quarterly) to management.
Yes. We conduct concurrent audits across multiple branches and locations with a consistent methodology, standardised checklists, and consolidated reporting, so your management and audit committee get a single, comparable view across all covered units. We serve clients across Mumbai, Thane, Navi Mumbai, Pune, and pan-India.
Our office is in Andheri East, Mumbai (Suite No.102, L1, Ashok Premises, Nicholas Road — 400069). We serve businesses across Mumbai, Thane, Navi Mumbai, and Pune, with pan-India engagements for concurrent audit, statutory audit, and assurance. Call us on +91 98190 00511 or contact us online for a free initial consultation.

Ready to Catch Issues Before They Cost You?

Speak to our concurrent audit team. We'll define the right coverage for your operations, align it to your regulator, and give you real-time assurance across every unit.

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📍 Suite No.102, Ashok Premises, Nicholas Road, Andheri East, Mumbai — 400069  |  📞 +91 98190 00511

Head Office

  • Suit No.102, L1, Ashok Premises, Nicholas Road, Andheri (East), Mumbai – 400069, Maharashtra, India.

Contact

  • +91 98218 32683
  • nainitsavla@savlagroup.in

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