Basic Reasons to Audit Balanced Scorecard | by Sam Miller

No matter what kind of business you are currently running, you surely understand the importance of reviewing and auditing its financial performance and all types of documents that contain this valuable info. Well, there is no doubt about the fact that the financial aspect is highly meaningful for any company, but what about other things that may seriously affect the financial results? These ones are definitely worth measuring as well.

Nowadays, there are different kinds of tools applied to assess these aspects and the Balanced Scorecard system is one of those that are currently considered the most affordable, comprehensive and reliable evaluation instruments. That is why it seems to be highly important to audit balanced scorecard as well. However, it makes sense to find out the essence and value of this scorecard first. Just like any other kind of audit, this one will help you compare the current performance of your organization with the basic criteria that matter in your business. These may include industry standards, successful practices and results as well as their importance for your business in particular. A scorecard audit (if performed accurately and correctly) helps get an independent and unbiased evaluation of how exactly you manage to track your business performance in general and the validity and quality of the data required for the assessment process in particular.

A typical audit model involves around 17 aspects that comprise such dimensions as scorecard content, its value, technical power and methods of reporting. This model provides the impartial and reliable data that may be further applied to improve the most problematic issues. Balanced Scorecard audit is one of the best ways to evaluate the overall success of your business system and realize your strategic goals more effectively.

What are those reasons, however, that make scorecard audit a necessity for any company concerned with its performance? >>>> Leer más “Basic Reasons to Audit Balanced Scorecard | by Sam Miller”