We plan to write a series of articles on this topic and combine them into a single guide. We hope our work will helpful for anyone involved in business management and audit. Below we present the first article of the series. Please keep track of the updates to read other articles of the series.
Writing a strategic audit will do much more for a company because the document will go much deeper, reporting on internal and external changes that are shaping the future of the business. Compile all available statistics relating to the company's performance in the previous year.
Many companies publish annual reports that include charts you may want to use in your strategic audit. Conduct interviews with company employees at all levels.
A working paper prepared for the Communications Consortium Media Center advised those conducting a strategic audit of communications to speak with respondents all along the management ladder in order to better understand how the company operates.
The auditor may also wish to conduct surveys and observe the company's workers first-hand. Research the competitive climate in which the business operates.
It is important to understand current market conditions and to honestly evaluate the competition. Many of the businesses in a given sector will experience the same challenges, so you should read the annual reports of competitors to find out their plans and see if you can improve upon them.
Decide upon the sections you will include in your strategic audit. Optimum Hospice Solutions, a company that helps hospice facilities improve their operating efficiency, makes strategic solutions the centerpiece of its strategic audit.
The strategic solutions section should describe the current state of the organization you're writing about, describe the likely state of the company in the future and provide concrete advice for the company's managers to follow.
Other sections in your audit may include financial charts, survey results, assessments of the competition, a list of company weaknesses and advice as to how the company could implement your suggestions. Compose all of the sections you have decided to include in your audit. You should maintain a professional tone, avoiding emotion when possible.
Read your prose aloud to yourself to make sure it makes sense. This technique should also help you in the advisory sections.
Your sentences should offer clear suggestions to your client. Assemble your strategic audit by ordering the sections in a way that you feel will be helpful to those who read it.
You may want to begin with your strategic advice in order to make a big first impression, or you could begin with your assessment of the business, as this may be more comfortable for a client that does not want to make big changes.STRATEGY AUDIT – AN INTRODUCTION A strategy audit is a review of a company’s business plan and strategies to identify weaknesses and shortcomings and enable a .
The strategic audit compares the state of a business as it exists on the day of the audit to the state of the business the way it would have looked and operated had it . INTERNAL AUDIT STRATEGY AND OPERATIONAL PLAN _____ Page 1 1 Introduction Introduction This document sets out the inaugural risk assessment and Internal Audit plan .
Our strategic plan includes auditing compliance and controls over grants throughout the institution. We believe this is critical to address the compliance.
9, attached is the City Auditor’s Fiscal Year Strategic Audit Plan (Plan) as approved by the Council’s Audit and Finance Committee (AFC) on September 26, This section is about our performance audit program, including how we develop our strategic audit plan, and the details of our upcoming audit tranceformingnlp.comping our programPerformance audits provide independent assurance that public resources are being used appropriately and that government programs are delivering on their .