What concurrent audit is.
A concurrent audit is a continuous examination of transactions at or soon after the time they occur. It is an early-warning system: instead of discovering a problem at the year-end audit, it is found within weeks, while it can still be corrected.
Who uses concurrent audit.
Banks
The RBI expects banks to have concurrent audit covering a substantial part of their business, including branches and treasury.
Brokers and depository participants
Market intermediaries must have concurrent audits of operations under exchange and depository rules.
UK-owned companies in India
For high-volume payments, payroll, procurement or treasury where the UK wants close oversight.
Shared service centres
Captive finance and operations centres processing transactions for the UK group.
What we check.
- PaymentsApprovals, vendor details, duplicate payments and limits.
- PayrollJoiners, leavers, changes and statutory deductions.
- Bank and cashReconciliations, cash handling and unusual entries.
- Revenue and billingInvoicing, credit notes and intercompany billing.
- Statutory paymentsTDS, GST, PF and ESI paid on time.
- KYC and documentationFor banks and intermediaries, KYC and loan documentation.
How it works.
Agree the areas
Which processes, which locations and which thresholds.
Set up data access
Read-only access to systems and monthly data extracts.
Monthly testing
Full checks on high-risk items and samples on the rest.
Monthly exceptions
Exceptions, explanations and actions in a short report.
Serious issues
Anything serious reported straight to the people you name in the UK.
Why clients choose us for audits.
Every audit is led and signed by Chartered Accountants in India.
Findings written for UK boards, audit committees and group auditors.
A written engagement letter with scope, timetable and fee.
Independence checks and a second-partner review on every report.
Encrypted document sharing, with site visits where the work needs them.
Clear, prioritised recommendations your team can act on.
Concurrent audits for UK groups with operations in India.
We carry out audits in India for UK groups, investors and lenders headquartered anywhere in the UK, reporting in a form their UK boards and auditors can use.
London
South East
Midlands
North of England
East and South West
Scotland, Wales, NI
Concurrent audit FAQs.
Want problems caught within weeks, not years?
Tell us which processes you want watched. We will propose a monthly concurrent audit.
This page is general guidance based on the Companies Act, 2013, Indian tax law and regulator guidelines as they stand. It is not legal or financial advice for your situation. Thresholds and requirements can change, so please speak to us before acting on it.