This article provides notes on Management Audit Criteria. The management functions are fundamentally of two types—qualitative and quantitative. Even if quantitative criteria or standards are identifiable or determinable and auditable, the qualitative aspects are difficult to audit. With respect to Management Audit, the objective is to identify for management the typical problems the company faces in the management of its [...]
After reading this article you will learn about Management Audit by Self-Appraisal:- 1. Advantages of Management Audit by Self-Appraisal 2. Disadvantages of Management Audit by Self-Appraisal. Advantages of Management Audit by Self-Appraisal: (i) The company's personnel know the organisational policies, plans, personnel, operations, personalities and working relationships, the political climate, the functional importance, and some of the problems themselves. (ii) [...]
This article throws light upon the ten main appraisal areas of a management audit. The appraisal areas are: 1. Economic Function vis-a-vis Social Responsibility 2. Corporate Structure 3. Health of Earnings 4. Service to the Shareholders 5. Research and Development 6. Analysis of the Board of Directors 7. Fiscal and Financial Policies 8. Production Efficiency 9. Sales Vigour 10. Executive [...]