management audit

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Management Audit

A measurement and report of the effectiveness and results of certain business procedures. Management audits are usually performed internally, and check to see that procedures have their intended effect. Unlike a compliance audit, which simply ensures that procedures are being followed, management audits challenge the assumptions and goals of procedures, with an eye toward improving efficiency. A management audit may recommend changes in procedures resulting from observed inefficiencies in existing procedures. See also: Audit, Assurance.
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management audit

A detailed audit that concentrates on analysis and evaluation of management procedures and the overall performance of an organization. A management audit is undertaken to discover weaknesses and to institute improvements within the organization. Also called operational audit, performance audit.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
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She said 16 performance audits and eight government company management audits were carried out at the federal government level.
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Lean Engineering and Training Consultancy MCP reports that its spare parts and materials' management audits show average scores of around 55% when compared to the world class benchmark of at least 75%.
ODRC internal management audits annually evaluate compliance levels with all applicable ACA standards.
Since then, Congress has expanded the GAO's statutory authorities and frequently calls upon it to thoroughly examine federal programs and their performance, conduct financial and management audits, perform policy analysis, provide legal opinions, adjudicate bid protests and conduct investigations.
Applicable attest experience includes a combination of financial, compliance, operational and management audits, and, in some circumstances, review services.
Other features include; a jargon-free "how to" format; coverage of various audits including management audits, formal investigations and control risk self-assessments; and a set of standards that can be adapted by managers from all types of organizations to help develop a systematic way of performing internal reviews.
"Management Audits: Passe, or a Useful Quality Improvement Tool?"

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