Concurrent Audit Services
Real-time transaction review for banks and NBFCs

Concurrent audit runs alongside transactions, not after

Unlike annual audits, concurrent audit usually happens monthly or weekly. It checks credit, KYC, disbursement, cash, exceptions and operational compliance while records are still fresh.

Situations this page is built for

• Bank branch under RBI mandate for concurrent audit.
• NBFC needing RBI-compliant internal audit structure.
• Large trading business wanting monthly transaction review.
• Co-operative bank needing third-party concurrent auditor.
• Business implementing post-fraud controls requiring ongoing monitoring.

Documents and details usually required

• Branch or entity transaction reports.
• Loan sanction and disbursement documents.
• KYC records and deviation registers.
• Previous concurrent audit reports.
• RBI inspection reports, if applicable.
• Internal control manuals and exception logs.

Practical process before hiring

Common red flags

• Audit done only at year-end instead of concurrently.
• Exception reports filed but observations not tracked to closure.
• No separate auditor for branches with large credit portfolios.

How to use this page safely

Concurrent Audit Services can depend on financial year, entity type, turnover, location, portal status, notice dates, transaction volume, documentation quality and whether prior filings were done correctly.

Use this page as preparation guidance. Before filing, responding, registering or appealing, share exact forms, notices, portal screenshots, amounts, due dates and prior acknowledgements with a qualified professional.

A strong WorkIndex quote should clearly state scope, assumptions, documents required, expected timeline, exclusions, and whether follow-up, correction filing or notice-response support is included.

How to compare WorkIndex responses

• Ask whether the expert has handled this exact service type, industry and portal workflow before.
• Confirm whether the quote includes filing only, advisory only, or also reconciliation, correction, response drafting and follow-up.
• Prefer experts who ask for records before final pricing instead of quoting blindly.
• For urgent matters, include statutory deadline, notice/order date, current portal status and financial exposure.
• Keep acknowledgement, computation, challan, report, working papers and communication trail after completion.

Keep these ready before requesting quotes

• PAN, Aadhaar, GSTIN, TAN, DIN, CIN, LLPIN, UAN or registration number as applicable.
• Portal login access or screenshots from Income Tax, GST, MCA, EPFO, ESIC, Startup India or other relevant portals.
• Previous filings, acknowledgements, challans, certificates, orders, notices, audit reports and working papers.
• Bank statements, invoices, contracts, payroll records, books export, rent agreements, transaction reports or board/investor documents relevant to the case.
• A short written summary of what happened, what deadline exists, what help you need and whether support can be remote or must be local.

How to get better quotes faster

• Mention whether you need a one-time filing, urgent correction, registration, audit, monthly retainer, appeal, or advisory review.
• Add approximate transaction count, employee count, turnover range, number of filings/years pending, and any notice deadline so experts can size the work properly.
• For accounting and bookkeeping pages, share the software used, number of bank accounts, monthly invoice count, GST status, payroll size and whether old cleanup is needed.
• For audit and diligence pages, share the review period, location count, materiality level, report format expected and who will consume the report: founder, investor, bank, board or tax department.
• For tax and GST disputes, upload or summarise the section/form/order number, demand amount, date of service, due date and current portal status before asking for a fee quote.

FAQs

Is concurrent audit mandatory for all bank branches?

No. Applicability depends on the institution’s policy and regulatory thresholds, but high-risk/high-volume branches are commonly covered.

How often should concurrent audit happen?

Monthly review is common; high-risk operations may need more frequent checks.

Can a CA firm handle concurrent audit remotely?

Some checks can be remote, but regulated entities may still require branch visits or secure data-room access.

Can WorkIndex help find RBI-experienced concurrent auditors?

Yes. Mention sector, branch count, portfolio size and periodicity when posting.