Management Audit is a systematic examination of decisions and actions taken by the management on strategic aspects like organizational objective, policies, procedures, organizational structure and suitability of control techniques to analyze the management’s performance and check their efficiency.
Management Audit is generally conducted with a view to critically evaluate the management as a team rather than appraisal of individual. It ensures proper evaluation of efficiency of the management, suggest improvements and lay down standards for improvement in future performance
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The Benefits of Management Audit are given below: