Examples of Concurrent Audit in a sentence
The objective is to provide ‘best in class’ Concurrent Audit services to the Bank.
The Statutory Auditors are required to certify that the Concurrent Audit and the internal control systems are working satisfactorily.
AMCs should put in place a system of Concurrent Audit of the transactions undertaken by them.
The Company’s internal control systems are further supplemented by an extensive programme of internal audit and also by Concurrent Audit by an independent firm of Chartered Accountants.
AMCs having multiple branches, may put in place a system of Concurrent Audit which will cover 80 per cent of the transactions value-wise under a system of monthly audit and rest 20 per cent of the transactions value-wise under quarterly audit.
Content of Concurrent Audit Report & Executive Summary Report Section 11: Key TimelinesSection 12: Appointment & Selection of Concurrent Auditors (including guidelines for submission of proposal)Section 13: District wise detail of Health Institutions Under NHM,HARYANA Section 14: Responsibility of District Health Societies.Section 15: Facilitation of the Audit Section 16: Some important Issues Section 17: Monitoring & EvaluationSection 18: Technical evaluation & selection methodology.
After Audit Automation Concurrent Audit work will be executed through automated tool.
Bank may call for a presentation before the Selection Committee of the Bank by the eligible firms on their understanding of the key considerations for Concurrent Audit, proposed Methodology and Approach to be adopted for the Bank, and the proposed team.
Hence, the Audit firm, can at the maximum hold not more than three Audits (i.e., Investment Risk Management Systems and Process Audit, Internal Audit, Concurrent Audit – all taken together), apart from Statutory Audits at any point of time.
The Concurrent Audits should be conducted in the branches / outfits as per the agreed time frame as per WBCAS / Bank's Concurrent Audit Manual, a copy / soft copy of which will be made available to selected firms after allotment of a branch / outfit.