Non-budgetary Control Devices
The following are some control devices which are not related to
budget.
Operational
audit/internal audit : It is the regular and independent appraisal of the
accounting, financial, and other operations of an enterprise by a staff of
internal auditors. In its most usual form operational auditing includes
auditing of accounts, appraisal of operations in general and weighing actual
results against planned results. Operational auditors, thus, assures that accounts really reflect the fact, appraise procedures, policies, quality of
management, effectiveness of methods and
Milestone budgeting
: Used by an increasing number of companies in recent years in controlling engineering and
development, milestone budgeting breaks a project down into controllable pieces
and then carefully follows them. In this approach to control.
"milestones" are defined as identifiable segments. When a given
segment is accomplished, its cost or other results can be determined.
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