Performance audits are beneficial because they can help management and those charged with governance and oversight improve program performance and operations, reduce costs, facilitate decision-making, and contribute to public accountability.

Performance audits are typically associated with government agencies because they receive federal funding and need to show they use the funds appropriately. But non-governmental performance audits are common too!

Performance audit providing conclusions on current and projected trends and the potential impact on the business. And analyzing the cost-effectiveness of a program or activity based on benefits provided and results achieved