Practice Areas · Compliance · Audit & Advisory · Audit & assurance · Concurrent audit
Concurrent Audit
Real-time audit of transactions as they happen — used widely by banks and branches.
What concurrent audit is
Concurrent audit is the examination of transactions at the time they take place, or very shortly afterwards — an ongoing, near-real-time check rather than a periodic look back.
It is used extensively by banks and their branches under RBI guidelines, and by businesses with high transaction volumes or significant cash and treasury operations, to detect errors and irregularities early.
What we check
Concurrent audit verifies day-to-day transactions against policy and procedure, including:
- Cash, clearing, and remittance transactions
- Loan disbursements, documentation, and limit compliance
- KYC, income recognition, and asset classification (for banks)
- Adherence to delegated authority and internal procedures
- Exceptions and irregularities, reported promptly for correction
How we work
- 01
Define coverage
Agree the transactions and areas to be covered and the reporting frequency.
- 02
Ongoing verification
Examine transactions concurrently against the rules and limits.
- 03
Prompt reporting
Flag exceptions immediately so they can be corrected while it still matters.
- 04
Periodic summary
Provide a consolidated report to management or the controlling office.
Why work with PBT
PBT provides disciplined concurrent audit that catches issues early.
- Familiarity with RBI concurrent-audit requirements for banks and branches
- Prompt, exception-based reporting that drives correction
- Consistent coverage against agreed checklists
- Clear escalation of significant irregularities
- Scope, deliverables, and fees agreed in writing up front
Frequently asked questions
Who uses concurrent audit?
Mainly banks and their branches under RBI guidelines, and businesses with high transaction or cash volumes that want real-time assurance.
How is it different from internal audit?
Internal audit is periodic and broad; concurrent audit is continuous and transaction-level, catching issues as they arise.
How long does it take?
Concurrent audit is a continuing engagement, typically reported monthly, with coverage and frequency agreed at the start.
Set up concurrent audit
Tell us about your operation, and we'll scope a concurrent-audit engagement and reporting rhythm.
Send an enquiryThis page describes the nature of the firm's services and is not a solicitation or legal advice. Thresholds, timelines, and applicable registrations depend on your specific facts; engagement terms and fees are agreed in writing per assignment.