In a management audit, managerial abilities and techniques are evaluated. This often includes auditing the various plans that have been prepared by management, along with its policies, programs, and procedures.
The individual who performs a management audit is popularly known as an operational management auditor or efficiency auditor.
Accounting that is performed for managerial purposes is known as management accounting. Also, a detailed analysis by management of various aspects of the business is known as a management audit.
All levels of management efficiency and effective evaluation are covered in a management audit. Here, the auditor studies every aspect of a business, from top to bottom, to justify the health of management, the administration, and the organization.
The main objectives of a management audit are the following: