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Management audit, Contribution of Brandon Isaac Santillan Dueñas - Coggle…
Management audit
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Objective
Verify Efficiency- It aims at increasing productivity at all the levels of management and execution of policies.
Give Reccomdation to Increase Efficiency- the management audit marks the incapabilities in various levels of management and provides suggestions to enhance the efficiencies.
Evaluates the Potential of Policies and Planning- It audits and evaluates the policies and plannings structured by the management and judge if its appropriately implemented.
Increase Profit- It helps to increase the profit margin by providing solutions to maximise the company’s resources in a valuable way.
Audit steps
Exploration and Preliminary Examination
This includes the study of the entity prior to the execution of the audit, in order to learn about aspects of the company.
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Report
The Report should express the problems, their causes and effects, with a view to being taken by the entity's executives as a management tool.
- Introduction
- Body of the Report
- Conclusions
- Recommendations
- Annexes
- Synthesis.
- Follow-up.
WHAT IT IS?
The management audit is a comprehensive and thorough examination of an organization or one of its components.
Scope
Calculate the Effectiveness of the Management- It audits the entire level of management of a company.
Execution of Principals and Policies- It reviews whether the policies and the principals deployed by the company is effective and successful.
Locate and Examine the Differences-It helps to identify the differences in productivity and if the pattern set by the company is not fulfilled.
Suggest for Improvement- The management audit suggests improvement in areas, e.g. purchase, sale, finance, administration, human resources,
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