Management Audits

Management audits are an integral part of the control and accountability regime of organizations. Through a management audit, the consultant is able to address fundamental questions such as the constraints faced by an organization in achieving its mandate and the systems in practices that are critical to the organizations overall success. Management audits help identify instances where an organization can improve its productivity, operational efficiency, internal costing information, overall performance (including financial reporting, cost recovery and self-sufficiency).

We have worked with a tried and tested model that assists us to review systems and practices against clearly specified criteria to establish their adequacy and to generate recommendations for the correction of deficiencies. Our reviews typically include the following:

• Organizational effectiveness
• Risk management
• Corporate governance and the role of the board
• Reliability of financial reporting
• Compliance with laws and regulations
• The effectiveness of the internal audit function
• Human resources policies and procedures
• Management Information systems.

SEM’s recent management audit activity has covered companies such as Crystal Auto, General Leasing and Finance Company and the Tema Oil Refinery.