Concurrent audit is a systematic and timely examination of financial transactions on a regular basis to ensure accuracy, authenticity, compliance with procedures and guidelines. Concurrent Audit is much the same as Internal Audit and is carried out at regular intervals. This is done to supervise the effectiveness in standard operations with statutory proclamations from time to time. Concurrent Audit usually acts as an appendage to the internal audit team, and assists it on a regular basis with factual findings.
Our services include: –
- A Systems review to understand the existing system and procedures, to enable us to suggest areas for system improvement and strengthening of controls;
- Bringing to light violations of procedures;
- Ascertaining whether sanctions for advances and expenditures is taken from a competent authority;
- Ensuring compliance with the procedures and policies;
- Review of the Cash Flow Statement and analysis of the utilization of the funds & various resources that were available;
- Detection and arresting of leakages of income;
- Reporting inefficiencies at any operational level.
Our dedicated team of experienced and certified professionals assist our clients to understand the various aspects of this audit and customize audit techniques as per their requirements to conduct the audit.
For availing Concurrent and Income & expenditure Audit Services, click here.