What is the main purpose of a concurrent audit?

The main purpose of a concurrent audit is to identify and address potential problems as they arise. This type of audit is performed during the period under review, rather than after the fact. By conducting audits concurrently, organizations can catch compliance issues, discrepancies, or inefficiencies early in the process. This proactive approach allows for immediate corrective actions, which can minimize risks and ensure that any deviations from policies or regulations are resolved quickly.

In contrast to generating financial reports or providing historical accounts, the focus of a concurrent audit is on active monitoring and oversight. This moment-to-moment scrutiny provides valuable insights and helps maintain compliance standards effectively. Additionally, while employee performance may be assessed in some contexts, it is not the primary objective of a concurrent audit. The emphasis is fundamentally on real-time problem detection and resolution, making option B the most suitable choice.