Concurrent auditing

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Praveenveldhi (Querist)
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21 September 2013 Dear sir
What is the difference between concurrent auditing and internal auditing...... can anybody do concurrent audit like internal auditing...... or is there any qualification is required.....
Thanks in advance

Nikhil Kaushik

Nikhil Kaushik (Expert)
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22 September 2013 Both constitute as tools for management control over business. Concurrent audit is more concerned with verification of transactions. Arithmetical accuracy etc. However, internal audit is more about checking the control mechanism of the organization and improvement therein.

Concurrent audit observations can form part of primary data for some part of the internal audit scope.

There are special courses for internal audits. But they are not compulsory. However, if you wish to excel in internal audit, there is no harm in doing them.

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