Difference between Audit and Evaluation
Difference between Audit and Evaluation
Audit and evaluation both are imperative terms as for any association and allude to method for assessing performance and products. There are numerous likenesses in these two procedures yet there are significant contrasts that should be considered also. This article will draw attention to these distinctions to empower an individual to value them in a best way.
Audit
A audit is an independent and systematic assessment of accounts, books, statutory records, vouchers of an association and different documents to determine how distant the financial statements and additionally non-financial revelation show a genuine and reasonable perspective view of concern.
Evaluation
Evaluation is a deliberate determination of subject’s legitimacy, noteworthiness and worth, utilizing criteria represented by set of standards. It can help an association, system or venture to evaluate any point, idea/proposition, to assist in decision making; or to find out the level of accomplishment or worth as to the objectives and aims.
Audit VS Evaluation
- Definition:
Audit is actually an assessment related to legitimateness and reliability of income and expenditure, fulfillment of laws and rule, economical, effective and efficient utilization of funds linked with project.
Evaluation is actually the assessment of effect, efficiency, sustainability, relevance of activities related to project.
- Process:
Audit is actually approach after administration cycle and has no link with this administration cycle.
Evaluation is a continuous internal procedure and also the part of administration cycle.
- Purpose:
The main purpose of audit is to assess or enhance suitability, safety and/or proficiency; to find out the legitimacy and unwavering quality of information; to give an assessment of internal control of system. Audit is typically utilized as a part of accounting. Audit also offers accountability ad assurance to the stakeholders.
The main purpose of evaluation is to assess any point, idea or proposal; to assist in decision-making; to find out accomplishment or worth; to picking up understanding into earlier or existing activities, to empower reflection and help with the recognizable proof of future change.
- Talks:
Audit always talk about related to financial irregularities.
Evaluation always discusses doing things in best way to enhance the productivity of system.
- Objective:
The main target of audit is to state an assessment of the individual, association or framework taking into account work done on test premise. An audit usually in accounting looks to demonstrate that the announcements are free from any material error.
The main target of evaluation is to find out the quality and worth of program.
- Performed:
Audit can be carried out whenever of the operational cycle.
Evaluation is generally performed toward the end of a operational cycle..
- Types:
Audit is usually of various types, exterior, interior, non-statutory, statutory, social, final, performance and differentiated into personal or quality and integrated.
Evaluation is primarily of two sorts, summative or formative.
- Method:
The principle steps required in auditing incorporates data gathering, pursue by evaluation and confirmation of internal control.
There are four primary techniques utilized in evaluation and these incorporates management oriented systems model qualitative, scientific experimental model, participant-oriented models and anthropological models.
Conclusion
From the above article we can conclude that whether audit or evaluation is there, both go for enhancing the effectiveness of an association and must be done in pair.
Very Informative.