Concurrent Audit/Pre-Audit

Concurrent audit is a real-time, transaction-level examination of an organisation's operations that runs alongside day-to-day processing rather than after the books are closed. Pre-audit takes this a step further by reviewing transactions before they are approved or settled, so that errors and irregularities are caught before they take effect. Both approaches are widely used in banks, financial institutions, and large organisations with high transaction volumes, where waiting for a periodic or year-end audit would mean discovering problems long after they could have been prevented.

Why This Matters

In high-volume, high-value environments, even a small percentage of erroneous or unauthorised transactions can translate into significant financial exposure by the time a traditional audit cycle catches them. Regulators in the banking and financial services sector mandate concurrent audit coverage precisely because after-the-fact detection is not sufficient to manage operational and fraud risk. A well-designed concurrent or pre-audit function shortens the gap between error and correction, strengthens internal controls, and gives management continuous visibility into process discipline rather than a periodic snapshot.

How We Help

Transaction-Level Concurrent Review

We examine transactions as they are processed, checking for adherence to internal policies, regulatory guidelines, and approval hierarchies, and reporting exceptions to management promptly rather than at the end of a reporting period.

Pre-Disbursement and Pre-Settlement Checks

For payments, disbursements, or high-value transactions, we conduct pre-audit checks before funds move, verifying documentation, authorisation, and compliance so that errors are stopped before settlement rather than flagged afterward.

Regulatory Compliance Verification

Where concurrent audit is mandated by a regulator, such as for scheduled banks and certain financial intermediaries, we structure our review to meet the specific scope, frequency, and reporting formats prescribed, keeping the organisation audit-ready at all times.

Exception Reporting and Escalation

We maintain a structured exception log and escalation protocol so that recurring control weaknesses are surfaced to senior management and the audit committee, rather than being buried in transaction-level detail.

Who Needs This

• Banks and non-banking financial companies
• Cooperative societies and credit institutions
• Large corporates with high transaction volumes across branches
• Organisations required by regulators or lenders to maintain concurrent audit coverage

Our Approach

We deploy audit personnel with the sector knowledge needed to review transactions meaningfully, rather than merely ticking checklists, and we calibrate the intensity of review to the risk profile of each transaction stream. Our reporting cadence is agreed with management upfront, whether that means daily exception flags, weekly summaries, or monthly consolidated reports, so that findings reach the right people in time to act on them.

Get in Touch

To discuss how we can support you with concurrent audit and pre-audit services, write to us at info@agarwalurs.com.