Productivity audit

In productivity auditing, which is defined as measuring how well a company uses its resources to produce goods or services, economy and efficiency are of paramount importance. Economy means minimizing the resources used in an activity while maintaining an appropriate level of quality. Effectiveness is the extent to which objectives are achieved and the relationship between the planned impact of an activity and its actual impact.

Since activity auditing is not limited to accounting transactions alone but also encompasses other business functions, its scope is very broad. The scope of activity auditing may include an organization’s organizational structure, production methods, marketing policies, and information processing activities.

For companies:

If there are doubts about whether a company’s resources are being used effectively,
If it is believed that the company’s savings policies should be reviewed,
If it is desirable to produce more with scarce resources,
If it is desirable to achieve greater goals with available resources,

An efficiency audit is necessary.

While productivity studies provide companies with the opportunity to raise questions and increase their productivity, they help companies develop the habit of conducting such studies, while also ensuring that the studies are followed up by senior management.

We can mention the stages of productivity audit as follows:

The organization’s critical areas of activity are identified.
The company’s operating budgets are obtained.
Business efficiency rates are determined.
Business productivity rates over the years are determined.
The productivity rates of the sector in which the company operates are investigated.
The company’s operational processes are observed.
The company’s operating budget and actual activities are examined, and the causes of deviations are identified.
Labor productivity performance is compared with industry and previous year averages.
Alternative cost analyses are conducted.
A letter of recommendation is prepared for management.

Independent audit services:

Independent review of financial statements.

We closely follow legal regulations relating to accounting and auditing standards and apply current audit methodology generally accepted worldwide.

Preparing corporate reporting packages.

It includes preparing tables, charts and analyses containing various performance indicators to be presented to the senior management of the organization.

Fraud investigations.

Fraud auditing is the determination of whether employees of a company have intentionally engaged in deception in order to obtain illegal benefits for themselves.

Compliance audit.

As a result of the compliance audit, full compliance with internal directives and legal requirements was ensured.

Activity audit.

It reveals whether a company is generally effective in its activities, it also helps measure whether the company is successful in achieving its goals.

Productivity audit.

Auditing activities is not limited to accounting transactions alone but also includes other functions in the business, so its scope of application is very broad.