Project Performance Audit – A Methodology

Abstract

After analyzing over seven hundred audit reports, the answers to the two questions were clear. Work was being won by other firms because they were able to price their services very low. However, in order to do so, they were reducing the scope of the audit to the bare minimum required by law. Their audit reports were, at most, three pages long – and that included the cover page and managing partner’s affidavit. In contrast, a performance audit with broader scope could yield a report 30 to 100 pages long. Second question, answered. As for the first question, that turned out to be a combination of audit team skills and scope (Nalewaik, 2013). And yet, the answers to both questions turned out to be more.