Management Audit

Management Audit – Management audit is a process of systematic scrutiny of a company’s functions and operations and performance by an independent unit, which are generally called management consultants.

This kind of a review or a scrutiny covers aspects like production efficiency, measuring finance and accounts of the company and reviewing the service personnel as well. It is also responsible for reviewing the policies and decisions and and structure of the organization to lead for greater efficiency in all aspects. Management audit differs from financial audit which basically measures the financial aspects of the company as management audit examines the non financial aspects and measures the overall efficiency of the management; as to how well or bad the reigns of the company are being handled.

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The objective of management audit is to evaluate and judge the suitability and success rate of the present policies and controls and aims to measure overall performance. It aims to suggest new means of improvement and lays standards for future performance of the company.

Edited and Updated 08th March 2014

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