Performance Audit Information


ORGANIZATION BIGGEST CHALLENGE

In a very competitive business environment of these days, the top managements need to understand the performance laps in the system which contribute inefficiency and underperformance of overall organization.

Organization’s 07 strategic components

  • Production /Technical services
  • Research and development
  • Material management
  • Sales /Marketing
  • Human resource
  • Finance and Accounts

Each department has its own KPI and hierarchy to achieve its strategic goals. Underperformance of any of these departments has the potential to contribute to a loss towards overall performance of a commercial organization and it might lose its overall target, register loss, less profit then anticipation or register a false/negative  profit to the organization with delaying effect and this will have impact on next year may continue year after year.

This may happen due to

  • Poor planning and approach
  • Wrong future predictions/challenge evaluation
  • Wrong, costings, Pricing, Decisions
  • Time Management
  • Vendor relationship/Cost control
  • Miss-calculations or extraordinary discounts
  • kickbacks or expenses which are not accounted for.
  • In- experienced staff
  • Pressure/immature decision making or management changes
  • Wrong profit calculation
  • Misuse of resources
  • Un defined or wrong KPI, s
  • Miss-reporting /delayed reporting to top management
  • Poor Financial Planning/cash flow arrangements.
  • Compromising and contradicting with organization vision

And many more……

Why Performance Audit 

  • Understand the factual situation
  • Flaws in Management responsibility matrix
  • Workflow Gaps
  • Frauds and kickbacks
  • False/hidden information
  • Loss contributors
  • In efficiency /Poor Performance
  • Loss analysis
  • Profit analysis
  • underperformance
  • Diagnosis/Treatment of Key factors/forces for under performance

Designed Intelligence Programme

  • Follow up KPI, s from start to an end
  • Understanding organizational tricks/politics
  • Employee/organizational Behavior
  • Correct reporting
  • Fearless Experienced approach
  • Control on variables
  • Fraud /misreporting
  • Wrong ordering /Expiries/Stock destruction.

Audit Expectations

Improvement in strategic controls by 15-25%

Reduction in departmental cost by 08-10 %

Reduction in overall losses by 05-07%

Increment in the profit by 05-07 %

Efficiency paradigm improvement up to 09-14%

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