Management Audit is an exercise of Systematic evaluation of the policies and practices of an enterprise's management in the administration and use of its resources, tactical and strategic planning, and employee and organizational improvement. This involves management aspects like organizational objective, policies, procedures, structure, systems, processes and control measures in order to check the efficiency and performance of the Company.
Through Management Audit an enterprise's management competencies and capabilities are analysed and assessed, and also their effectiveness evaluated, with regard to the strategic objective and business.
The ambit of Management Audit is unduly wide and extensive. It includes all the functions of an enterprise, viz.:
- 1. Objectives and Strategy
- 2. Management and Business Structure
- 3. Operational Execution
- 4. Management and Administrative Planning
- 5. Budgeting
- 6. Resource Management
- 7. Sales and Marketing equipment
- 8. Management Information Systems
This wide spectrum of area extends to recent past, present and future operations and also covers external issues as well as internal concerns.
