Analyze How Management Audits are Used for the Finance Function to Measure Efficiency and Effectiveness

DOI

10.2991/978-94-6463-608-6_4How to use a DOI?

Keywords

Management Audit; Financial Efficiency; Risk Management

Abstract

Management audit is a critical tool for ensuring the efficiency and effectiveness of financial functions within various organizations. This study aims to explore the implementation of management audits in financial management, assess how these audits contribute to enhancing efficiency and effectiveness, and identify challenges and best practices associated with the process. A qualitative research method was employed, utilizing case studies and in-depth interviews with audit practitioners, along with document analysis. The findings indicate that management audits significantly improve operational efficiency by identifying inefficiencies and ensuring compliance with financial policies. Additionally, these audits aid in financial risk management by providing insights into potential risks and mitigation strategies. However, challenges such as resource limitations and internal resistance can impact audit effectiveness. The study recommends that organizations invest in staff training, increase resource allocation for audits, and adopt advanced technologies to support the audit process. With proper implementation and attention to challenges, management audits can significantly contribute to better and more transparent financial management.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Moch. Iqbal Zulfikar PD
PY  - 2024
DA  - 2024/12/27
TI  - Analyze How Management Audits are Used for the Finance Function to Measure Efficiency and Effectiveness
BT  - Proceedings of the 1st Widyatama International Conference on Management, Social Science and Humanities (ICMSSH 2024)
PB  - Atlantis Press
SP  - 21
EP  - 32
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-94-6463-608-6_4
DO  - 10.2991/978-94-6463-608-6_4
ID  - ZulfikarPD2024
ER  -