Management Audit

 Management audit is the appraisal of the functioning of the management its performance and achievements. The audit is a comprehensive appraisal of management performance with respect to various aspects of organizational plans, policies and decisions.

• Management audit is tool of managerial control as it involves the measurement of actual results of the operation of organisation in relation to results which were planned for that organisation.
• Management audit consists of a critical assessment of the management of an organisation.
• Management audit may be done of the whole organisation or of a specific section of the organisation.
• It provides guidance on critical assessment of capital budgeting or profit performance.
• Management audit concept is not new and has been used over the period for improving the profitability and efficiency of the organisation but now a days specialist manager man audit consultants are employed for more critical appraisal who makes recommendations for improvement and possible methods to achieve better performance.
• Management audit helps in making overall management operations more effective.
• Management audit leads to peak performance.
• Management audit brings out deviations and suggest possible corrective measures.
• Management audit acts as safety valve.
• Management audit in some organisation is on continuous basis for future growth.
• Management audit is systematic.
• It is an important examination of the performance of the organisation.
• Management audit helps in development. 

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