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Sunday, May 11, 2014

Efficiency Audit

Efficiency audit means whether operations of organization are competent to achieve the goal of organization. Its purpose is to assess that the control and supervision of management are in every functional and operational area of the firm. Efficiency audit means study of competence of people, policy and procedure to achieve goals.
Efficiency audit has two parts :
First part is about people working in the organization. Whether they have proper qualification, experience, quality and facility to work efficiently and effectively. The efficiency and the effectiveness of an executive in discharging his obligation towards the attainment of objectives of the organization will also form part of efficiency audit.
The second part is about functions and operations in the organization. Whether the tools, techniques and terms of functions and operations are effective and efficient with a view to attain optimum utilisation of resources of the organization.

Efficiency audit includes the following :
a.       Reduce the areas of uncertainty of the business;
b.      Remove the bottlenecks to achieve the goals and objectives of the organization;
c.       Remove the inefficiency and ineffectiveness of operations;
d.      Protect against the causes of business failures;

e.      You can also write your own points.