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Operational auditing
From Wikipedia, the free encyclopedia
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Operational audit is a systematic review of effectiveness, efficiency and economy of operation. Operational audit is a future-oriented, systematic, and independent evaluation of organizational activities.
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Objectives
Steps of operational audit Generally Operational Audit involves following five steps;
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In Operational audit financial data may be used, but the primary sources of evidence are the operational policies and achievements related to organizational objectives.[1] Operational audit is a more comprehensive form of an Internal audit.
The Institute of Internal Auditors (IIA) defines Operational Audit as a systematic process of evaluating an organization's effectiveness, efficiency and economy of operations under management's control and reporting to appropriate persons the results of the evaluation along with recommendations for improvement; see aside.
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