Bank Audits – Statutory & Concurrent Audit Services
Banks play a critical role in the financial ecosystem, and maintaining compliance with RBI guidelines and financial accuracy is non-negotiable. Statutory and Concurrent Audits are essential tools that banks utilize to ensure adherence to regulatory requirements, early detection of irregularities, and maintaining the integrity of financial reporting.
We are empanelled with RBI and several leading banks to conduct statutory branch audits and concurrent audits. Our audit teams are well-versed in RBI’s master circulars, banking compliance frameworks, and risk-based audit approaches that ensure effective coverage of critical banking operations.
Our Statutory Audits focus on verifying the accuracy of financial statements, NPA classification, provisioning norms, and compliance with RBI guidelines. On the other hand, our Concurrent Audits involve continuous transaction-level auditing to monitor real-time risks, detect operational lapses, and ensure that internal controls are effectively implemented.
With a structured audit methodology, sector expertise, and a proactive reporting system, we assist banks in enhancing operational efficiency, improving compliance readiness, and building robust internal control systems that withstand regulatory scrutiny.
Frequently Asked Questions (FAQs)
Statutory Audit is an annual external audit to verify the accuracy of a bank’s financial statements, while Concurrent Audit is an ongoing audit of transactions to detect irregularities in real-time.
Yes, statutory audits of select bank branches are mandated by RBI to ensure financial reporting accuracy, especially for large branches handling significant advances.
Concurrent Audits focus on high-risk areas like loan disbursements, cash transactions, KYC compliance, and operational risk controls, ensuring timely detection of lapses.
Our audit process is aligned with the latest RBI Master Circulars, IRAC norms, and bank-specific internal policies to ensure 100% regulatory compliance.
Audit & Assurance
- Statutory Audits (Companies Act)
- Internal Audits
- Tax Audits (Income Tax Act)
- Bank Audits (Statutory & Concurrent)
- Forensic Audits
- Management/Operational Audits
- Stock Audits
- Due Diligence Reviews
- System & Process Audits
- ESG/CSR Audits
- Trust & NGO Audits
- Startup Audits
- Municipal Corporation Audits
- CAG Audits
- PSU Audits
- Social Audits (MNREGA, etc.)
- Autonomous Body Audits
- Co-operative Society Audits
- Parliament-tabled Audit Reports
- PSE Audits
CA. Dhiraj Jain
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