Concept of Management Audit

The Concept of oversight Audit The focal point examine is much recent concept. It focuses on results, evaluating the effectiveness and suitability of controls by challenging profound rules, procedures and methods. Management scrutinizes, which are generally performed internally, are compliance audits plus cause-and-effect analysis. Management audit requires some additional effect. It is a systematic technique of evaluating the carrying into action and effectiveness of the management of a firm.This audit is conducted by an independent auditor or auditing firm, who are experts in auditing. This is done yearly or periodically. The audit group collects as many facts and information from office records and personal interviews with the power of the firm. The team also collects data through questionnaires distributed among the personnel and customers and/or clients of the firm. The team shall submit recommendations to the management for future actions.Management may use these rec ommendations for controlling the cognitive operation and accomplishments of the firm. According to Ferlyn L. Suvillaga it is a systematic judgement of methods and policies of an arrangements management in the administration and the use of resources and other more. From the response of Loria Lyn M. Fernandez management audit is audit itself but instead of in accounts, it deals with the management. As explained by Rancy Mendoza it is the crop of determining the individual or group performance in an organization or business. Based on the statement of Ivey Anne Muncada it is a systematic assessment of companys organizational policies and administration. After reading a rattling reliable references, the researcher finally realized that management audit is really important, whether to organization, company or firm. It also requires some additional work because without work we cannot perform such management audit.