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.
When the audit is complete, the external audit company will not only provide its findings but will most often provide an entire plan for the board of directors to implement so that the company can operate at an optimal level.
In contrast to an internal audit, which is carried out by the internal audit department of a company, a management audit is conducted by outside companies with specific expertise.
Ever since I switched to Forthright, I have been able to save so much time on paperwork and accounting. Forthright is the best accounting software I have ever used. Highly recommend it to anyone
Since I switched to Forthright, I have seen a drastic decrease in the number of hours that I spend on bookkeeping every month. Forthright has simplified the entire process and made it very user-friendly. The customer service is excellent, and they are always available to help. Highly recommend!
I have been using Forthright for my business accounting and I have been very happy with the service. I have found their staff to be very helpful and knowledgeable. The online interface is very user-friendly and makes it easy to keep track of my finances. Highly recommend!
Office 938, Business Tower, Burjuman, Dubai, UAE