What is Performance Audit

[Samuel]

Can someone explain what a performance audit is? How does it differ from a regular financial audit, and what aspects of an organization’s operations does it focus on? I’m curious about how auditors measure efficiency, effectiveness, and economy during a performance audit.

 

[karen]

A performance audit examines the use of organizational resources in terms of efficiency, effectiveness, and economy. It does not only look at the accuracy of accounts like a financial audit, instead it is more concerned with results and performance.

 

[jainnorton]

An impartial, independent review of an organization's operations or programs is called a performance audit. Its goal is to assess whether resources are being used effectively, economically, and efficiently in order to accomplish stated objectives and suggest changes.

 

[danisjohn]

A performance audit is a review that checks how efficiently and effectively an organization, program, or department is working. Instead of focusing on money records alone, it examines whether goals are being met, resources are used wisely, and improvements are needed.

 

[peterkavinsky]

A performance audit is an evaluation that examines how efficiently and effectively an organization or program is operating, focusing on results, resource use, and overall performance improvement.

 

[kebido]

A performance audit is an independent assessment of an organization's programs and operations to evaluate their economy, efficiency, and effectiveness. The audit examines whether an entity is achieving its goals, managing its resources well, and operating in accordance with established principles, often providing recommendations for improvement.