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Strategic audits are examinations and evaluations of strategic management processes including measuring corporate performance against the corporate strategy. Whenever a deficiency is noted or performance of an organization is sub-par, the organization may elect to perform a strategic audit. This may be done with in-house auditors, or an audit firm may be contracted to perform the audit.
The auditors will audit performance of the organization against the current corporate strategy and seek to identify problems within the current strategy that may be tied or can be traced to poor performance. Upon completion of the audit, a report will be created regarding the auditing firm or group’s findings and submit the report with recommended remedies to the management of the organization. The organization will then seek to implement the proposed remedies with hopes of increasing organizational performance.
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What control should periodically reassess its approach to the marketplace with a good marketing audit?
strategic control
What is the difference between Financial Audit and Cost Audit Describe each of them?
between financial audit and cost audit
Difference between audit plan and audit program?
an audit program may contain several audit plans
What is the process of preparing an audit?
The process of preparation for audit depends on the kind of audit to be performed, it's objective and scope. The scope of the audit is key to the planning process. The planning required or statutory audit is different from internal audit; it also differs from forensic audit?
What are the advantages in having an audit committee?
the audit committee communicate with internal audit, external audit and CFO on behalf of the company.
How do you strategic audit relevance to corporate strategy and corporate governance?
Corporate strategy and corporate governance must be audited to insure that the course of action is the wisest. In the best scenario growth and profits will be at an optimum. If this is not the case, a strategic audit will show that change is a necessity.
What control should periodically reassess its approach to the marketplace with a good marketing audit?
strategic control
What is the role consultants play in the strategic planning and management process of a company. Is it an essential role?
What is strategic audit? Explain its relevance to corporate strategy and corporate governance
Why should a SWOT analysis form part of the audit planning process?
Audit does not mean whether the processess set in are in place. The holistic view of audit is also to alert the stakeholders of strategic failures. Hence swot analysis is carried out to ascertain the strength, weakness, opportunities and threats. Swot analysis enables focus on what is to be done, which area to be looked into a greater detail etc. Hence it forms part of audit planning process.
How do you conduct an external strategic management audit Specify three external forces that have recently affected your organization in one or another way and what measures have been taken to cope?
strategic mgt audit is a technique of measuing the orgnisation 's performence
Differences between IS Audit nad Traditional Audit?
what is the differences between IS Audit and traditional Audit?
3 general types of quality audits?
3rd Party Audit - Independent Audit 2nd Party Audit- Customer Audit 1st Party Audit- Internal Audit
How does an audit manager write up a letter to the audit partner?
How do I write a audit letter about concerns on an audit
What is the Difference between HR audit And Financial Audit?
Under HR Audit, audit of HR procedures and process is done while in financial audit, audit of finance related matters are done.
Differences between audit plan and audit program?
difference between audit program audit & note book
Difference between audit plan and audit program?
an audit program may contain several audit plans
What is the difference between Financial Audit and Cost Audit Describe each of them?
between financial audit and cost audit
