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Performance audit refers to an independent examination of a program, function, operation
or the management systems and procedures of a governmental or non-profit entity to assess whether the entity is achieving economy, efficiency and effectiveness in the employment of available resources.

The examination is objective and systematic, generally using structured and professionally adopted methodologies.

In most countries, performance audits of governmental activities are carried out by the
external audit bodies at federal or state level. Many of these audit bodies have established
guides for conducting performance audits which explain how performance audits are
planned, conducted and its results reported.

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