Cost Audit and Management Audit

Cost Audit

Definition of Cost Audit The term Cost Audit means the examination of books of account and vouchers to ascertain their accuracy. The exact calculation of the cost of a product is called Cost Audit. Meaning ‘Audit‘ may be described as a systematic examination of the books, vouchers and records of a business to enable the …

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Management Audit

What is Management Audit? In Management Audit the evaluation of managerial abilities and techniques is carried out. The various plans prepared by management, its policies, programs, procedures their Audit is management Audit. It is popularly known as operational management or efficiency Auditor. The Accounting kept for managerial purpose are called Management Accounting, similarly, the detailed …

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Need and Scope of Management Audit

The management of business at present becoming more and more complex. The use of specialised techniques such as operational research, statistical sampling, electronic data processing, production control etc. require the services of experts. The directors are not experts in every field of Management. If anything goes wrong then directors have to face the criticism. This …

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