These three elements form the basis of a marketing management audit. The following sections will explain how one can use the marketing audit to uncover the information one will need to shape one's eventual marketing activities.
First point of comparison between the two is that marketing audit is a comprehensive, systematic and periodic examination of a firm's environment, objectives, strategies and activities to find problem areas and opportunities to recommend a plan of action to improve the performance of marketing strategies of the firm. Whereas an audit of financial statements is defined as the assessment by an autonomous third party of the financial statements of an organization or a company or other, ensuing in the publication of a sovereign view on whether or not those financial statements are appropriate, correct and comprehensive.
Financial audits are characteristically carried out by firms of practicing accountants, due to the expert financial reporting information they need. The financial audit is one of many declaration or evidence of tasks provided by accountancy firms, whereby the firm offers an independent view on published data. Financial audits also help investors deciding whether to invest in a firm or not. ...Show more