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Systematic assessment of methods and policies of a firm's management in the administration and the use of resources, tactical and strategic planning, and employee and organizational improvement. Its objectives are to (1) establish the current level of effectiveness, (2) suggest improvements, and (3) lay down standards for future performance. Management auditors (employees of the firm or independent consultants) do not appraise individual performance, but may critically evaluate the senior executives as a management team. See also performance audit. By Mohammed Shafi, RIMS Bangalore
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What are the features of compliance management?
Compliance management system from company like ADP India provides the features such as Statutory Compliance Audit Factory compliance Services CLRA Management Trust Management
Mention three stakeholders who would be interested in the audit reports?
mention three stakeolders that will be intrested in the audit report
Whats called a person facing Audit from Auditor?
A person facing an audit is called a pre-clear. This means that they have not been cleared yet by the auditor.
Define cost audit?
The purpose of a cost audit is to verify all cost accounts and ensure that the company is following the predefined cost accounting plan. This type of audit focuses on every department within an organization to ensure that costs are being managed properly.
Why would a green audit be carried out?
to help a community
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
What is strategic audit?
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.
What is the meaning of 'Audit Management'?
The definition of "Audit Management" is to be responsible for ensuring that board-approved audit directives are implemented by the right people and in the correct way.
What is the difference between cost audit and management audit?
Mgt audit is not compulsory under the law .cost audit in certain industry ,it is legally compulsory
What has the author William Acar written?
William Acar has written: 'The organizational audit and analysis' -- subject(s): Management audit, Management by objectives
What is asserted in an operational audit?
In an operational audit, the management of an organization asserts that the operations of the organization are being conducted in accordance with management's established policies and procedures.
Objectives and importance of management audit?
In today business world management play very important role for the success of failure of business. Management is the life blood of every organization. So if organization want to gain competitive advantage then it should improve their management efficiency and effectiveness. Followings are the objectives of management audit: Review of policies review of procedures review of methods performance appraisal job rotation Depend upon auditor mind or purpose of management audit
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
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
What does MLC mean as it pertains to an audit?
Management Letter Comment
The impact of internal audit on organization?
Internal audit reveals to management whether internal control procedures are duly followed or not.
