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Management audit is independent analysis of organization structure, operations, financial position, plans, policies and other evaluations. The objective of a management audit is not to appraise individual executive performance, but to assess the management team in relation to their competition. The result of the management audit, is to provide suggestions for effective management in context of the resources and operations. Implementation of the suggestions are crucial for achieving the goals of the organization.
Interlink Capital’s Management Audit services are focused on creating value. The audit services are customized keeping requirement of clients in mind. Audit services help our clients in reducing risk and help them to make effective business decisions. The audit is conducted by our seasoned professionals who blend their experience and approach to provide best alternatives to carry out business activities.
A ‘management audit’ can be defined as an audit which analyses the effectiveness of the management team of a company. The purpose of this is seven-fold: understand current practices, relate these to company financials, suggest new procedures which will improve the efficiency of managers, present a financial gain related to these new procedures, create benchmarks and projections for the future. The management audit process can be described by the auditing both the management method and the key management staff. This helps to establish the effectiveness of both the leaders of the department as well as how they perform as a team.
It considers both financial and non-financial factors including economic environment, their effect on the administration and goals of the business organisation. It is essentially a procedure or a form of appraisal of the total performance of the management by means of an objective and comprehensive examination of the organisation structure, its components such as a department, its plans and policies, methods of process or operation and controls, and its use of physical facilities and human resources.
Management audit may even be used to provide guidance on critical assessment of capital budgeting or profit performance, forecasting and planning activities on long-term and short-term basis. Management audit is thus concerned with evaluation and appraisal of the control system and information system in various segments of the organisation.