Performance Audit and Management Audit

Performance Audit

Evaluating Results. Enhancing Accountability. Driving Value.

At Prags Group, our Performance Audit services are designed to go beyond traditional compliance audits by assessing how efficiently, effectively, and economically an organization is utilizing its resources to achieve intended outcomes.

Whether you’re a business seeking operational excellence or a funding agency monitoring program outcomes, a Performance Audit helps measure real-world impact and highlights areas for improvement.

Objectives of a Performance Audit

To determine whether organizational activities meet defined goals and KPIs
To assess if resources are utilized in the most productive and cost-effective manner
To identify gaps between planned and actual performance
To promote transparency, accountability, and continuous improvement

Scope of Performance Audit Services

Goal Alignment: Review of organizational mission vs departmental objectives
Efficiency Review: Analysis of input-output ratio, productivity, and process waste
Effectiveness Analysis: Measuring outcome achievement against defined metrics
Cost-Benefit Analysis: Evaluating financial prudence of specific functions or projects
Performance Indicators Assessment: Review of KPIs, dashboards, and reporting structures
Recommendations: Practical improvement strategies backed by data

Ideal For

Promoter-driven or family-owned businesses undergoing professionalization
Investor-backed startups and scale-ups preparing for IPO or acquisition
Large organizations undertaking restructuring or strategic transformation
Enterprises aiming for ISO, ESG, or corporate governance benchmarking
Internal audit teams aiming to elevate their review scope

Value Delivered

Management Audit

360° Evaluation of Organizational Health and Strategic Effectiveness.

At Management Audit, is a comprehensive and independent appraisal of the organizational structure, internal systems, business strategies, and leadership decision-making.

Unlike statutory or financial audits, which focus on accuracy and compliance, a Management Audit dives deeper into the quality of management practices’ quality and their alignment with business objectives.

At Prags Group, we conduct holistic management audits that guide promoters, boards, and leadership teams in building agile, scalable, and resilient organizations.

Objectives of a Management Audit

To assess the effectiveness of key managerial decisions
To ensure proper planning, control, and resource deployment
To evaluate leadership performance and strategic alignment
To analyze the interdepartmental coordination and accountability systems
To help organizations prepare for growth, funding, or restructuring

Scope of Management Audit Services

Strategic Review: Evaluation of business planning, vision, and direction
Organizational Analysis: Hierarchy, roles, communication flow, and reporting systems
Departmental Efficiency: Audit of HR, Finance, Sales, Operations, IT, etc.
Policy & Decision Review: Compliance with internal controls and ethics policies
Technology & MIS Assessment: Review of ERP, CRM, reporting and monitoring systems
Leadership Appraisal: Role clarity, delegation, performance-linked accountability
Stakeholder Feedback: Interviews with key internal and external stakeholders
Risk Review: Operational, reputational, and regulatory risk assessment

Value Delivered

Improved strategic focus and execution
Improved strategic focus and execution
Higher employee engagement and accountability
Informed leadership backed by analytics
Better readiness for external investment or regulatory scrutiny

Why Prags Group?

Team of Chartered Accountants, Business Analysts & Risk Experts
Real-time dashboards and data-driven insights
Cross-industry experience with startups, MSMEs & large enterprises
Confidential, management-friendly audit execution
End-to-end support from planning to implementation