Operational audit of an organizational activity is a future-oriented, systematic, and independent evaluation. It is completely a business assessment approach to improve the efficiency of an organization's operation and profitability. It mainly evaluates the effectiveness, efficiency and economy of operations of an organization and provides all required recommendations to improve.
Objectives and Significance of Operational Audit:
1. Appraisal of controls
2. Evaluation of Performance
3. Appraisal of objectives and plans
4. Appraisal of Organizational Structure
5. Reporting and Suggestions
6. Structuring the Initial review
7. Surveys of management and Employees
8. Presentation of the Audit Plan
9. Actual Auditing
10. Final Report Submission
Operational audit is for organization and its activity, in addition to that it will pin point to the cause for inefficiency of the activities but also the remedies to improve them. An operational audit will also provide the management with some new and different perspectives of looking at organizational activities and its spending habits. SME Business Management Consultancy have well organized operational audit team to haldle your company activities.