Concurrent Audit of Banks & Information System Audit
Concurrent audit at bank branches under RBI and NABARD guidelines, including information system audit under core banking.
The RBI directed banks to introduce concurrent audit in 1993, following the recommendations of the Ghosh Committee on frauds and malpractices in banks. The system was introduced at selected branches to bring about ongoing improvement in internal housekeeping, to identify areas of weakness and deficiency, and to energise the process of rectification.
Concurrent audit is a management process integral to sound internal accounting functions and effective controls, and it sets the tone for a vigilant internal audit.
How our service will assist
- Concurrent audit conducted by specialised staff against current RBI and NABARD guidelines, notifications and circulars
- Information system audit of banks operating under core banking solutions
- Identification of potential non-performing assets, so management can act before an asset turns bad
- Empanelled on the ICAI Bank Auditors Panel under MEF No. 11803
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