Concept of strategic audit

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Reference no: EM132840867 , Length: word count:4500

STRATEGIC AUDIT ASSIGNMENT

Task 1

For the purpose of this assignment, you have been employed by a large auditing firm as a senior audit practitioner. The audit firm specializes in audit and assurance services across a relatively large geographic area.

You have been asked to prepare a presentation and business report to be presented to new members of the audit firm. You are required to include the following information in your presentation and / or business report.

Business Presentation:

1. The concept of strategic Audit and its contribution to the organization.

2. A critical assessment of the Strategic Audit process.

3. The role of and importance of financial management with a critical focus on disposal of surplus, management of cash and financial controls.

4. The Human resource audit and its support and contribution to the strategic audit.

Task 2
Now you will create an essay report that will include the detailed explanation of the following concepts so that the new members of the firm have learnt the critical role of strategic audit.

1. With an appropriate example the concept of core competence with their characteristics and briefly discuss the three criteria for developing core competence.

2. A comprehensive explanation of the functional assessment that will directly contribute to the strategic audit of the organization. These assessment will include but not limited to
a. Assessment of the premises
b. Assessment of the Facilities
c. Assessment of the information technology capabilities
d. Assessment of the people and skills.

3. The five Ps of strategy and how those can be used to ensure that the strategy complies with the result of the strategic assessment that you carried out earlier.

4. The concept of business portfolio analysis and the role it plays in strategic audit.

5. Explain the application of BCG matrix and McKinsey Growth share matrix to carry out the strategic audit.

Word Count - 4500 words

Reference no: EM132840867

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