STRUCTURE OF PERFORMANCE AUDIT
Depending on the scope of performance audit in organization, it can be structured as under:
- Measuring the degree of professionalism.
- Measuring the efficiency.
- Measuring the economy.
Professionalism audit emphasize on the identification of any possible lapses in terms of personal bias and methodological issues while conducting the audit. Efficiency audit emphasizes on the objective achievement and effectiveness measurement. While the economy audit measures the economy or cost effectiveness of performance.
Professionalism in performance audit is understood in terms of quantification and actual definition of performance results, considering various alternatives. It is understood measuring whether performance measures ...