--%>
Assignment Help - homework help

What are Operational Audits

Operational Audits: It is a review of how an organization's management and its operating events are functioning with respect to their efficacy and efficiency in meeting stated objectives. For illustration, a business might execute an operational audit when its senior management has become convinced that operational enhancements can be made and require to be recognized.

It is an operational audit and is a formal assessment of the internal systems and procedures a company employs to produce services or goods. Made of at least four main steps, it tests how proficient and effectual production operations are, that ultimately boosts revenue and gains. It too can reveal moral issues in the business. External and internal accountants might execute the review, based on the requirements of the business. This procedure has some drawbacks, like high potential cost, however it too offers advantages, like new perspectives and raised risk awareness.

   Related Questions in Auditing

  • Q : Importance of internal audit to the

    Write down the importance of internal audit to the organization?

    		•
  • Q : Differentiation between External and

    Elucidate the differentiation between External Audit and Internal Audit?

    		•
  • Q : What are Operational Audits Operational

    Operational Audits: It is a review of how an organization's management and its operating events are functioning with respect to their efficacy and efficiency in meeting stated objectives. For illustration, a business might execute an operational audit

    		•
  • Q : Functions of Internal Audit Elucidate

    Elucidate various Functions of Internal Audit?

    		•
  • Q : Explain the term vouching Briefly

    Briefly explain the term vouching ?

    		•
  • Q : What are Internal Controls Internal

    Internal Controls: Internal control includes the plan of organization and all of the coordinate techniques adopted within a business to defend its assets, ensure the accuracy and consistency of its accounting data, encourage operational efficiency, an

    		•
  • Q : Scope of internal audit How can scope

    How can scope of internal audit aid you?

    		•
  • Q : What is Audit Management Audit

    Audit Management: It is a systematic assessment of processes and policies of an organization's management in the administration and the utilization of resources, tactical & strategic planning, and employee and organizational enhancement.

  • Q : Auditing around the computer Audit

      Audit procedures that ignore the actual computer processing part of business activities. A sample of input is tested and verified through standard audit technique, and the output is checked. Auditing around the computer assumes that if the output rights, then the processing is righ

    		•
  • Q : Business-Government-NGO-Professional

    What are the difference between Business versus Govt. versus NGO revenue versus Professional revenue?

    		•