ABK is engaged in concurrent audit of banks and other entities. Concurrent audit is an examination, which is contemporaneous with the occurrence of transactions or is carried out as near thereto as possible. It attempts to shorten the interval between a transaction and its examination by an independent person not in its documentation. In concurrent audit, there is an emphasis in favour of substantive checking in key areas rather than test checking.
Concurrent Audits are a systematic and timely examination of the financial transactions on a regular basis to ensure accuracy, authenticity and compliance with procedures and guidelines. Concurrent audits do not emphasis test checking but substantial checking of a transaction. The main objective is to detect arithmetical errors and manipulation deliberately made (if any).
Our effort is to conduct concurrent audits as per the scope of the entity and it usually includes:
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