Gurdaspur, Punjab +91 85579 34175 | admin@mahajanjyotiassociates.com
Banking audit

Statutory & Concurrent Bank Audit

A systematic, risk-based audit approach for stronger controls, clearer observations and practical recommendations.

Our team has experience in Statutory and Concurrent Audits of various banks and branches, with a strong understanding of banking operations, regulatory requirements, internal controls and risk areas.

We adopt a systematic and risk-based approach to identify irregularities, control weaknesses, compliance gaps and operational risks, while providing practical observations and recommendations to strengthen the overall control environment.

Areas covered

Statutory Audit of Bank Branches
Concurrent Audit of Bank Branches
Verification of Advances and Loan Accounts
Review of NPA Classification & Provisioning
Review of KYC and Regulatory Compliance
Verification of Loan Documentation and Security
Reporting of Audit Observations and Recommendations

Our audit focus

Each assignment is approached with attention to significant banking activities, supporting documentation and the controls that help manage financial and operational risk. Where observations are identified, we focus on clear reporting and practical recommendations that can help address the underlying issue.

The scope of an audit engagement is confirmed based on the relevant appointment, branch operations, applicable requirements and agreed terms.
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Service FAQs

Questions about Statutory & Concurrent Bank Audit

Clear answers to common starting questions. The right approach is confirmed after reviewing the facts and records involved.

Statutory Bank Audit involves an independent examination of the financial records and operations of a bank or branch to assess compliance with applicable accounting, regulatory and statutory requirements and to provide an independent audit opinion.

Concurrent Audit is a continuous review of banking transactions and operations carried out alongside the regular functioning of a branch. It helps identify errors, irregularities, control weaknesses and compliance issues on a timely basis.

The scope may include advances, loan accounts, NPAs, provisioning, deposits, interest income, cash and clearing operations, KYC compliance, documentation, internal controls and other significant banking activities.

Yes. Our experience includes review of loan and advance accounts, documentation, security and collateral, interest application, overdue accounts, asset classification, NPA identification and provisioning.

Concurrent Audit helps banks identify irregularities and control deficiencies at an early stage, enabling timely corrective action and strengthening internal controls and risk management.

The key objectives include verifying the accuracy of financial records, assessing compliance with applicable requirements, evaluating internal controls, identifying irregularities and risks, and providing appropriate audit observations and recommendations.

Yes. Wherever applicable, our audit observations are supported by practical recommendations to address control weaknesses, improve compliance and reduce the risk of recurrence.

Clarity in compliance. Confidence in every decision.

Discuss your accounting, taxation, registration or reporting requirements with our team.

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+91 85579 34175 admin@mahajanjyotiassociates.com
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