New Enroll in RBI Grade B New Batch - Starts on May 21

    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.

    Practice Next