Concurrent Audit Part-1: Advances
About this ebook
In this first volume of the Concurrent Audit series, the author meticulously covers the complexities of managing advances within the banking industry, offering readers a detailed understanding of key audit methodologies and financial management techniques. The book emphasizes the importance of real-time auditing and the proactive identification of irregularities in the bank’s lending practices, particularly focusing on advances—a critical area prone to financial discrepancies.
The book further explores the role of technology in modern auditing practices, showing how digital tools and innovations can enhance the efficiency, accuracy, and scope of audits. It provides practical case studies drawn from Vrutik Bara's real-world experiences, equipping auditors and banking professionals with actionable strategies to streamline their audit processes. These case studies illustrate the practical application of auditing principles, offering a practical blueprint to tackle common challenges faced in the field.
Through its accessible language and practical approach, Concurrent Audit Part-1: Advances is an invaluable resource for professionals in the banking and finance sector. Whether you are an auditor looking to refine your skills or a banking professional aiming to better understand the intricacies of concurrent auditing, this book serves as a thorough guide to improving audit efficiency, ensuring compliance, and safeguarding financial integrity in banking operations.
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About the author
Vrutik Bara is a seasoned professional with extensive expertise in auditing across various banking assignments, including concurrent audits, revenue audits, internal audits, stock audits, and statutory audits for public sector banks. Since 2017, Vrutik has been instrumental in identifying income leakages and ensuring compliance with regulatory frameworks, consistently earning recognition from banks for his meticulous approach.
With a strong background in banking and finance, Vrutik collaborates with chartered accountant firms to provide high-quality audit services and effectively manage large-scale assignments. His notable achievements include identifying significant irregularities in advances and offering actionable recommendations to improve banking practices.
Vrutik holds multiple qualifications, including a Master of Commerce (M.Com), a Diploma in Financial Management (DFM), and a Bachelor of Laws (LLB), which reinforce his expertise in concurrent audits and regulatory compliance. Beyond his professional commitments, he is passionate about utilizing technology and innovative techniques to enhance audit efficiency.
In addition to his professional accomplishments, Vrutik is deeply involved in social service. He is a Foundation Member of the Royal Raghuvansi Group, a member of Kartavya Jivdaya Kendra, and currently serves as the President of the Leo Club of Morbi City. He is also an active member of the Yuva Shakti Foundation and the Dada Bhagwan Foundation, where he contributes to various charitable and community development initiatives.
Vrutik resides in Morbi, Gujarat, where he continues to excel in banking audits. Outside of his professional life, he enjoys pursuing hobbies such as chess, which sharpens his strategic thinking; traveling, which broadens his perspective on global cultures and trends; and exploring his creativity through various artistic and creative pursuits. These activities provide him with a well-rounded perspective that further enhances his professional capabilities.
