Concurrent Audit of Banks
A T Ansari & Associates
We deliver comprehensive and practical solutions tailored to the unique needs of your business. As Chartered Accountants, we are dedicated to building trusted client relationships, staying abreast of evolving regulatory and statutory frameworks, and providing accurate, compliant, and timely services. Our expertise spans audit and assurance, taxation, and advisory, enabling you to navigate financial and regulatory complexities with clarity, consistency, and confidence."
Services Details
A T Ansari & Associates provides specialized Concurrent Audit of Banks services, ensuring real-time monitoring and compliance with the Reserve Bank of India (RBI) guidelines and banking regulations. Both CA Aadil Ansari and CA Tahmeena Ansari are Certificatied for Concurrent Audit of Banks from ICAI, equipping the firm to deliver precise and reliable audit services for financial institutions. The firm conducts continuous, transaction-level audits to verify the accuracy of financial operations, detect discrepancies, and ensure adherence to regulatory and internal control frameworks. Their services cover critical areas such as loan disbursements, KYC compliance, cash management, and risk assessment, helping banks maintain operational integrity and avoid penalties. With a focus on timely reporting and actionable recommendations, A T Ansari & Associates enhances the efficiency and reliability of banking processes.
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Real-Time Transaction Monitoring: Reviewing banking transactions, including deposits, withdrawals, and fund transfers, to ensure accuracy and compliance with RBI norms.
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Loan and Advance Verification: Auditing loan disbursements, repayment schedules, and documentation to confirm adherence to credit policies and regulatory guidelines.
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KYC and AML Compliance: Verifying Know Your Customer (KYC) and Anti-Money Laundering (AML) processes to ensure compliance with RBI and Prevention of Money Laundering Act (PMLA) requirements.
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Cash Management Audits: Monitoring cash handling procedures, including cash balances, vault operations, and ATM reconciliations, to prevent mismanagement or fraud.
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Risk Assessment and Control Evaluation: Identifying operational and financial risks in banking processes and evaluating internal controls to recommend improvements.
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Regulatory Reporting Support: Preparing and submitting concurrent audit reports to bank management and regulators, ensuring compliance with RBI’s audit requirements.
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Discrepancy Resolution and Recommendations: Highlighting irregularities, such as non-performing assets or procedural lapses, and providing actionable solutions to enhance operational efficiency.