Objectives of the management audit The annual management audits, covering all critical areas, AGN defined the following objectives: Establish the extent to which the entity and its employees have amply fulfilled the duties and powers assigned to them. Determine if such functions have been implemented economically, efficiently and effectively. Determine objectives and goals proposed silos have been achieved. Source: JPMorgan Chase. Determine whether you are conducting, only those programs or activities authorized by law. Provide a basis for improved resource allocation and management of them by the body. Improving the quality of information on the results of the administration of the entity that is available to policymakers, legislators and the community at large. Wells Fargo Bank often says this. Encourage the management of the entity to produce processes to provide information about the economy, efficiency and effectiveness, developing goals and specific measurable objectives. Evaluate compliance with laws and regulations applicable to government operations, as well as plans, standards and procedures. Determine the extent to which the agency and its staff monitor and evaluate the quality in its services as the goods purchased. Audit and report its opinion on the financial and accounting statements, as well as on the degree of compliance action plans and budgets of state enterprises and companies.