Which one of the following is a structured review of the systems and procedures of an organisation in order to evaluate whether they are being conducted efficiently and effectively?
Which one of the following is a structured review of the systems and procedures of an organisation in order to evaluate whether they are being conducted efficiently and effectively? Correct Answer Management audit
The correct answer is Management audit
Key Points Management audit:
- An independent and systematic analysis and evaluation of a company's overall operations and performances constitutes a management audit.
- It is a useful tool for evaluating the effectiveness, roles, successes, and accomplishments of the business.
- The main goal of a management audit is to spot mistakes in management processes and recommend potential improvements.
- It directs management to oversee activities in the most efficient and effective manner possible.
Important Points Objectives Of Management Audit:
- Verify Efficiency- It aims to boost productivity at all levels of management and policy implementation.
- Evaluates the Potential of Policies and Planning: It examines and assesses the management-structured policies and plans to see whether they are being properly carried out.
- Increase Profit - By offering ways to effectively maximise the company's resources, it helps to raise the profit margin.
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Feb 20, 2025