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Performance Management Systems and Strategies by Dipak Kumar Bhattacharyya

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DIFFERENCES BETWEEN THE PERFORMANCE AUDIT AND FINANCIAL AUDIT

Although procedurally, performance audit and the financial audit have many things in common, they are not alike. Basic difference between the two, while the performance audit focuses on efficiency measurements, financial audit focuses on the accuracy and correctness of accounts. Other areas of difference between the two can be listed as under:

  • Financial audit is a routine job. It does not focus on any specific problem. Performance audit, on the other hand focuses on problems and the process of identification of its causes.
  • In financial audit, attention is more on figures, in performance audit, however, the attention is more on people, and other resources.
  • For obvious focus on specific ...

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