What do you know about Concurrent Sales Audits in Banking?

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Concurrent Sales Audits in Banking are real-time audits conducted to ensure accuracy and integrity of sales transactions.

Concurrent Sales Audits are conducted simultaneously with the sales transactions to detect any discrepancies or fraud in real-time.
These audits help in ensuring compliance with regulatory requirements and internal policies.
They involve reviewing sales transactions, verifying documentation, and reconciling sales figures with financial records.
Concurrent Sales Audits help in preventing revenue leakage and identifying potential risks in sales processes.
Examples of areas covered in Concurrent Sales Audits include cash handling procedures, sales incentives, and discounts offered to customers.

Top HR questions asked in IDBI Bank Concurrent Audit Assistant