New Cracking SEBI General in 60 Days - Possible or Not?
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Question

Concurrent audit is a part of:

A Internal check system Correct Answer Incorrect Answer
B Continuous audit Correct Answer Incorrect Answer
C Internal audit system Correct Answer Incorrect Answer
D None of these Correct Answer Incorrect Answer

Solution

Concurrent audit is a part of the internal audit system. It involves the examination of financial transactions and processes as they occur in real-time or concurrently with the day-to-day operations of an organization. This helps in detecting errors and irregularities promptly, ensuring compliance with internal controls, and improving the overall efficiency and effectiveness of an organization's operations.

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