Neha Kothari (Manager) (136 Points)
25 September 2013Hi..
Pls tell me what is the scope of management audit? How do an organization gets benefitted by the management audit? What all aspects are covered under it and how is it different from internal audit. Also, what is the scope of management audit in terms of jobs and career of a chartered accountant in India.
Milind M. Kulkarni
(Practicing CA)
(583 Points)
Replied 25 September 2013
Management audit is carried out based on philosophy of any business group for companies which are part of the group. Scope of this audit is determined by the top management or group that has a policy of management audit. Usually, this scope should cover review of management decisions, their implementation, adherence with group policies, legal compliance, risk management and so on. Unlike internal audit wherein a specific area within the company is reviewed in totality, management audit covers audit/ review of decisions and actions at senior management level.
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