Practice Brief • Audit & Assurance Services
Concurrent Bank Audit & Due Diligence
Real-time banking transaction audits, credit appraisal reviews, revenue leakages, and due diligence.
Turnaround: Ongoing monthly concurrent engagement
Practice Lead: CA. R.A. Dhoot & Banking Audit Cell
Practice Methodology & Regulatory Scope
Our concurrent audit desk has extensive experience examining high-volume bank operations, forex dealings, treasury operations, and non-performing asset (NPA) classification in accordance with RBI guidelines.
Governing Statutory Acts & Guidelines
RBI Master Directions on Concurrent Audit in Commercial Banks
Banking Regulation Act 1949
PMLA Regulations
Tangible Client Deliverables
1
Monthly Concurrent Audit Reports with risk grading2
Early Warning Signals (EWS) reporting on stressed borrower accounts3
Revenue leakage detection and recovery notices4
Foreign exchange and SWIFT transaction statutory verification5
Financial Due Diligence for consortium banking and takeover of loansMeasurable Enterprise Safeguards
Immediate rectification of documentation and security perfection flaws
Zero tolerance on fraud and money-laundering vulnerabilities
Defensible assurance reports for banking audit committees
Statutory Practice FAQs
Q: What is the primary scope of a concurrent bank audit?
A: Concurrent audit is a real-time examination of financial transactions contemporaneously with their occurrence to ensure adherence to bank systems, RBI prudential norms, timely revenue booking, and proper loan documentation.
Partner Consultation
Engage Practice Partner
Schedule an in-person chambers discussion or encrypted virtual conference with our senior practice leader.
Designated Partner Lead:
CA. R.A. Dhoot & Banking Audit Cell
ICAI Fellow Chartered Accountant
Strict client confidentiality maintained under ICAI Code of Ethics.