VIEWS: 3 PAGES: 3 CATEGORY: Business & Economics POSTED ON: 5/28/2010
In the early days of performance audits, called operational audits, the audit was about costs and the saving of time. The following 6 stage process was developed: 1. statement of the condition, 2. criteria, 3. cause, 4. effect, 5. statement of conclusion, and 6. recommendation. The 1970s was about management audits. Management Audit was developed to evaluate and conclude on how well new managers were performing against generally accepted management standards. Effectiveness became the third key evaluation criterion, joining economy and efficiency. In the 1980s, Value for Money audits were soon built into the UK budget and execution processes, and made good money for the auditors. The following criteria were used to evaluate quality of any service: 1. appropriateness, 2. awareness, 3. availability, 4. accessibility, 5. extensiveness, and 6. equity. In the 1990s, Program Performance Budgets focused on why money was to be spent, rather than what was spent. In the 2000s, the Knowledge Performance and Knowledge Management Audits required auditors to evaluate the existence, ownership, use and maintenance of knowledge and know-how. All the techniques, (planning, control evaluation, evidencing, sampling and impartial reporting), are used in this wider scope of Performance Audit.
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