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Concurrent audit

Jayakrishna (Student) (132 Points)

04 January 2016

What does concurrent audit means??

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Krishna Prasanna (-) (200 Points)
Replied 07 January 2016

Concurrent Audit is an audit where the audit is done after the completion of the operations for certain period. It is prevalent among the banks.Irregularities that are found in the software of the banks are generally reported to the manager on monthly basis.Irregularities are not only confined to the software but also to the operations performed in the bank like Token system,Gold Appraisal etc.Also many aspects are checked in this audit and it depends upon the reporting requirements of the bank which varies from bank to bank.Some banks require exhaustive reporting in all areas whereas some concentrate only on few aspects.