Concurrent audit gets a reputation for being a box-ticking exercise. Done well, it's the opposite — it catches problems while they're still cheap to fix.
What it looks at
- Transactions as they happen — not months later, so errors are caught before they compound.
- Adherence to process — whether the controls on paper are actually being followed day to day.
- High-risk areas — cash, credit, and anything with weak segregation of duties.
Why it helps
The value isn't the report — it's the tightening that happens because people know transactions are being reviewed in near-real-time. Year-end becomes a formality instead of a scramble.
The best concurrent audits I run end with fewer findings each quarter. That's the point — it's a feedback loop, not a verdict.
In short
Concurrent audit reviews transactions and controls as they happen, so issues surface early and stay small. It's prevention, not post-mortem.
HK
CA Honey Kalra
Independent Chartered Accountant. I write short, practical notes on tax, GST and compliance — and I'm always happy to answer a real question.
