Home / Concurrent Audit Services

Updated on 4 Apr 2020  9.00 AM IST | 4 min read

Concurrent Audit Meaning

Concurrent audit is a systematic way of examining and verifying the financial transactions of a business entity at the time of happening. It focuses not on test checking but on substantial checking of transactions. The concurrent audit has no definite period. Generally, concurrent audit is conducted for bank branches and it depends upon the quantum of advances given.

Concurrent audit is done –
  1. To check the financial health of a business
  2. To ensure that whether financial management arrangements are working effectively.
  3. To identify areas of improvement to increase the efficiency of the business.

What Is Included In Our Package?

Eligibility Consultation

Document Preparation

Application Drafting

Government Fees

Objectives of Concurrent Audit

  1. Ensure voucher/evidence based payments in order to improve the transparency
  2. Ensure accuracy and timeliness in maintaining books of accounts
  3. Ensure accuracy and timeliness in maintaining periodical financial statements.
  4. Improve the accuracy and timeliness in reporting of financial transactions.
  5. Ensure that systems, procedures & policies should be followed properly and in accordance with the compliance.
  6. Regularly track, follow up advances and settle them on urgent basis.
  7. To improve the overall internal control systems.

Duties Of Concurrent Auditor

  • To check the daily transactions – cash deposits & cash withdrawals at the time of happening
  • To check the loans & advances
  • To check the authorizations
  • To check the KYC of the customer which includes form filling, id proof and address form.
  • To check the foreign exchange transactions
  • To check the remittances
  • To track non-performing assets
  • To check whether organization is following operational and regulatory compliances.
  • To check the housekeeping maintenance of the branch. This includes lockers safety, safety of computers and its software’s.

Benefits of Concurrent Audit Services

  • More than 10 years of experience
  • Qualified professionals
  • Excellent customer service
  • Cost efficient
  • Customer delight
  • Time saving
  • Quick turnaround time
  • Continuous support over e-mail and phone (24X7).

How Finacbooks Can Help?

Finacbooks is one of the leading Indian firms with more than 10 years of experience in helping organizations with Concurrent audit. To avail the best deals on concurrent audit, kindly call us at 8800221252 or you can also e-mail us at info@finacbooks.com

Concurrent Audit FAQ’S

Concurrent audit is systematically checking and verifying the financial transactions of a business entity at the time it occurs.
Concurrent audit is done to check the financial health of a business, to identify new areas of improvement and to know whether financial management arrangements are working effectively or not.
The concurrent audit has no definite period.
Due to increase in Non-performing assets, more & more branches are coming under concurrent audit.

What Clients Say

Customer delight is our main goal and we are very serious about it.

Prakash Verma

Prakash Verma

“Finacbooks.com is a perfect example of a great customer service dealing with the best of accountancy services.“

Prakash Verma Signature

Praveen Chauhan

Praveen Chauhan

“They offered us good quality services in a least possible time at a best Price.“

Praveen Chauhan Signature

Pradeep Kochhar

Pradeep Kochhar

“Finacbooks.com is a trusted network of highly qualified accounting professionals who not only provided us quality accountancy services but also supported us by answering our each & every query on time without any delay. “

Pradeep Kochhar Signature

Informational, useful and resourceful


Catch up our trending topics, news etc. in a simple, detailed and most professional way.

How to Renew Your FSSAI Food License?
01 Apr, 2020

What is FSSAI Food License? FSSAI food license is a mandatory requirement for every food business operator (FBO) involved in business of... Read More

Coronavirus: Central Government Economic Measures to Fight Covid 19 Crisis
27 Mar, 2020

Relief package of Rs.1.7 lakh Crore announced by the Finance Minister to fight Coronavirus Our central government has taken many... Read More

Corporate Social Responsibility (CSR) in India
24 Mar, 2020

What is Corporate Social Responsibility (CSR)? Corporate social responsibility means managing of business processes by fulfilling its... Read More


We Are Everywhere

We are having a wide network operating all across India as well as Internationally.
World Map

Contact Us

30+ Offices in

10+ Years Experience

Save Your

Quick Turn around Time

Qualified Professionals

Excellent Customer Service