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?

Option 3 : Management audit

The correct answer is Management audit

 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. 

 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.