The goal of a management audit is to identify the weaknesses of the management team. The audit is most often carried out on a companywide basis but it can also be isolated to certain business segments. The goal is always to find out how effective management is and where it can improve.

Areas that a management audit will cover but are not limited to include human resources, marketing, research and development (R&D), budgeting, operations, finance, information systems, and corporate structure.

The management audit will consist of interviews with management and employees, an analysis of financial statements and performance, a study of a company’s policies and procedures, an evaluation of training programs, the hiring process, and many other areas within an organization.