Auditing - presentation on Management Audit

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  • Auditing - presentation on Management Audit

    1. 1. “Youth Boomers” Name Md. Shahidul Islam ID. 110106050 Md. Moazzem Hossain 110106034 Md. Anqur Chowdhury 110106027
    2. 2. DEFINITION William.p.leonard “A comprehensive and constructive examination of an organizational structure of a company ,institution or branch of government ,or of any component thereof , such as a division or department and its use of human and physical facilities”
    3. 3. Objectives  Business managed efficiently.  Improvements and recommendations.  Plans and programmes executed.  Increasing managerial efficiency.
    4. 4. Objectives  Effective and efficient discharge of duties and responsibilities.  Assess whether it can achieve the overall business objectives or not.
    5. 5. scope 1. prospective demand of business and aims with objectives. 2. Return on investment. 3. Relationship with shareholders investing public in general and
    6. 6. scope 4. Ratio analysis of homogeneous industry with heterogeneous quantity. 5. Financial planning and controlling. 6. Production and sales issue of the management audit.
    7. 7. Types of information required for management audit  Objectives  Planning  Organization  Control  Functional areas
    8. 8. Functional areas  Purchase  Production  Distribution  Personnel  Finance and accounting
    9. 9. Management reporting  Meaning “ A good business report is a communication that contains factual information , organized and presented in clear, correct and coherent language.” -Johnson and savage.
    10. 10. Essentials of effective reporting Good form and content The report should be given proper title, headings, sub-headings and paragraph divisions.
    11. 11. Essentials of effective reporting Simplicity The report should be presented in a simple, language. unambiguous and clear
    12. 12. Essentials of effective reporting Promptness Promptness in submitting a report is an essential element of a good report. The reports should be sent at the earliest and should not be delayed.
    13. 13. Essentials of effective reporting Relevancy The reports should be presented only to the persons who need them. Sometimes the reports are sent to various departments and the secrecy will not be maintained and expenditure will be more.
    14. 14. Essentials of effective reporting Consistency There should be a consistency in the preparation of reports . The comparability of reports will be possible only if they are consistent.
    15. 15. Essentials of effective reporting Accuracy The reports should be reasonably accurate. A report sometimes will be approximated but approximation should not be done up to the level where information loses its form and utility.
    16. 16. Essentials of effective reporting Controllability The report should be addressed to appropriate persons in respective responsibility centres and its variance should be mentioned.
    17. 17. Essentials of effective reporting Cost Consideration The cost of preparing and presenting the report should also be considered and it should not exceed the derived from such reports. advantage
    18. 18. Essentials of effective reporting Comparability This reporting system is meant to help management in taking correct decisions and improving operational efficiency of organization. This information helps in finding out deviations or variances.
    19. 19. Essentials of effective reporting Frequency of reports Along with promptness, the frequency of reporting is also significant. The timing of reporting will depend upon the nature of information and its purpose. These reports are prepared for appropriate persons.
    20. 20. Any Question???

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