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Management audit refers to the systematic examination of decisions and overall performance of the management of an organisation. The purpose is to review management’s efficiency and effectiveness and improve its performance in future periods. It helps to identify the deficiencies in the action of management functions in the organization. The effectiveness of audit for controlling is examined from the following heads:
Table of Contents
Controlling is an end function – A function that comes once the performances are made in conformity with plans.
The nature of managerial control techniques is discussed below:
Controlling is a primary goal-oriented function of management in an organization. It is a method that compares the actual performance with the set standards and rules of the company to ensure that activities are performed according to the statutory rules. If not, take corrective action.
Management needs to monitor and evaluate the activities at all levels. It helps take corrective actions by the manager in the given timeline to avoid contingencies and losses. Controlling is performed at the upper, middle and lower levels of management.
Also Read:All There To Know About Management AuditWhat is the Management Audit and its procedure?
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