Performance Management Systems and Strategies

STEPS IN PERFORMANCE AUDIT

Performance audit process in any organization follow certain steps. Most commonly used steps are indicated below:

• Development of assessment criteria.
• Preparation schedule.
• The choice of audit tasks.
• The choice of audit objectives.
• Preparatory work.
• Performance audit planning.

While developing the performance assessment criteria it is important to consider the aspects of economy, efficiency, and effectiveness. Accordingly, it needs to be translated into specific assessment criteria to facilitate the measurement of the organizational performance. While developing the assessment criteria, it is also important to conform to the test of relevancy, operative, and consistent. In the next step, preparing the schedule of performance ...