What are the Benefits of Conducting a Performance Audit?
Conducting a performance audit offers several benefits:
Improved Decision-Making: Provides managers with actionable insights for better decision-making. Enhanced Accountability: Ensures that employees and departments are accountable for their performance. Cost Reduction: Identifies inefficiencies and areas where costs can be reduced. Increased Transparency: Promotes transparency in operations, which can build trust with stakeholders. Performance Measurement: Helps in setting benchmarks and measuring future performance against these benchmarks.