An Analysis of Concurrent Audit in India
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Abstract
This article delves into the concept of Concurrent Audit and its evolution. It outlines the guidelines issued by the Reserve Bank of India and the Securities and Exchange Board of India. The RBI Master Circular on Inspection and Audit Systems in Primary (Urban) Co-operative Banks (RBI/2009-10/83 dated July 1, 2009) has laid down a comprehensive framework for Concurrent
Audits. These SEBI-regulated entities are required to maintain rigorous internal audit and compliance review mechanisms as outlined in various SEBI Regulations. The article highlights the role of Company Secretaries as Governance Partners.