What are the advantages of "Efficiency Audit"?
CS Executive · Company Accounts & Auditing Practices · PYQS · June 2018
What are the advantages of "Efficiency Audit"?
Answer & Explanation:
Advantages of Efficiency Audit Auditing efficiency enables the management/owner to know whether the departments and agencies manage resources with due regard to efficiency. More specifically, such audits can: Help managers and staff to be more sensitive to their obligations with reference to efficiency; Underline the importance of measuring efficiency and of using that information for managing operations and providing accountability; Identify means for improving efficiency, even in operations where efficiency is difficult to measure; Demonstrate the scope of lowering the cost of delivering programs without reducing the quantity or quality of output or the level of service; Increase the quantity or improve the quality of output and level of service without increasing spending; and Identify required improvements in existing controls, operational systems, and work processes for better use of resources.
Topics: Auditing Practices
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