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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
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Money Management Action Plan

In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

Money Management Action Plan
Home » Glossary » What is Process Audit
What is Process Audit  

What is Process Audit


Process Audit is a complex inspection and examination of all process elements and transactions to discover inefficiencies and potential/existing causes of variation in quality of results or even explicit errors. Process audit is an in-depth evaluation of the process in terms of its methods, equipment, environment, manpower, procedures, and other components that play any role in transformation of the process inputs into specified outputs.

It approves (or calls in question) assurance that process is managed efficiently and effectively, so the organization can apply certain responsive actions in order to rectify situation or prevent problems. The task of process audit is to identify and examine all process affectors in order to evaluate and verify the ability of process to stably produce a high-quality output. Process audit may include:

  • Inspection of the controls to make sure they are in place;
  • Inspection of the materials and other inputs of the process;
  • Inspection of the equipment to learn its working condition;
  • Inspection of the process procedures to appraise their applicability;
  • Inspection of the process executers to approve their competence;

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