Professionalsaathi
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Concurrent audit is a type of internal audit that is conducted in real-time to ensure that the financial transactions and operational processes of a business are accurate and in compliance with applicable laws and regulations. It is typically performed on a regular basis and covers various areas of the business, such as finance, operations, and inventory management.
This involves identifying the scope and objectives of the audit, as well as determining the resources and personnel needed to conduct the audit.
.This involves reviewing the financial and operational records, interviewing key personnel, and performing any necessary tests or analyses.
.This involves summarizing the results of the audit and presenting them in a clear and concise report.
.This involves working with the business to address any issues identified in the audit and implementing any necessary changes or improvements.
.Access to all relevant financial and operational records
A clear understanding of the business's operations and processes
A detailed plan outlining the scope and objectives of the audit
Cooperation and support from the business's management and personnel
report summarizing the findings of the audit
recommendations for improvement or remediation
actions the business plans to take in response to the audit findings
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