Who Needs a Concurrent Audit?
For regulated financial institutions that need ongoing, independent oversight of IT and information security controls between annual audits.
Commercial & Small Finance Banks
Cooperative Banks
NBFCs & Housing Finance Companies
Payment System Operators
Insurance Companies
Institutions with Audit Committee Mandates
Our Concurrent Audit Approach
Deliverables You Can Expect
Periodic reports, observation trackers and summaries aligned to your agreed concurrent audit plan.
Concurrent Audit Plan & Coverage Map
Periodic Concurrent Audit Reports
Observation & Closure Tracker
IT & Application Controls Findings
Trend & Repeat Issue Analysis
Audit Committee Summary
Benefits of Concurrent Audits
Earlier Issue Detection
Control gaps surface within the audit cycle, not months later at year end.
Continuous Assurance
An ongoing, independent view of IT and security controls between annual audits.
Faster Closure
Tracked observations and follow-up keep remediation moving across cycles.
Audit Committee Visibility
Regular, concise reporting on control health and repeat issues.
Regulatory Readiness
Documented evidence that supports inspections and statutory audit reviews.
Fewer Year-End Surprises
Fewer open findings when annual and regulatory audits begin.
Why Choose QRC for Concurrent Audits?
Regulated-sector audit experience, risk-based coverage and findings tracked to closure.
Listed by CERT-In as an empanelled information security auditing organization.
Audit services covering RBI-focused IS audits, cybersecurity audits and payment security assessments.
Audit effort focused on the applications, processes and controls that carry the most risk.
Observations tracked cycle to cycle until closure evidence is verified.
Supporting Services
Services that extend concurrent audit coverage into annual audits, deeper testing and ongoing oversight.
Information Systems Audit
Annual IS audit across IT governance, operations and applications.
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Cybersecurity Audit
Independent review of cybersecurity governance, risk and technical controls.
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Vulnerability Assessment
Identifies known vulnerabilities before they become active threats.
Learn More
Real-World Concurrent Audit Outcomes
How financial institutions have used QRC Concurrent Audits to maintain continuous control assurance.
Concurrent Audit Resource Center
Guides and resources to plan, run and report on concurrent IT audits.
Frequently Asked Questions
A concurrent audit is an ongoing, periodic audit carried out while operations run, rather than once a year. QRC's concurrent audits focus on IT and information security controls in regulated financial institutions.
An annual IS audit gives a point-in-time view across the full IT environment. A concurrent audit reviews agreed areas monthly or quarterly, so gaps are found and tracked sooner. Many institutions run both.
No. This service covers IT and information security controls, including application controls. Concurrent audit of financial transactions and accounts is outside its scope.
Reporting frequency is agreed in the audit plan, commonly monthly or quarterly. Each cycle report covers new observations and the status of earlier findings.
Cycle reports with risk-rated observations for IT, security and risk owners, plus a concise summary for senior management and the audit committee.
Ready to Strengthen Continuous IT Assurance?
Define your audit universe, reporting cycle and priorities with QRC's audit team.