T nlt IO 1 )Figure 6.1
Management Audit continuedfrom previouspage
Yes NoV. Administrative Management
A. Record keeping
Are records of past transactions and events easy to find?
Are records retained for at least the minimum legal time period?
Is access to personnel files limiled?
B. Problem solving
Are there few unresolved problems?
C. Decision making
Are you decisive?
Is there a chain of command?
D. Government regulationsAre you aware of local, state, and federal regulations that affect
your business?
E. Leadership
Do you actually take charge of the business and its employees?
F. Developing subordinates
If you were to die or suddenly become disabled, is there a ready
successor?
G. Business lawDo you have a working knowledge of applicable
business law
regarding contracts, agency,
Uniform Commercial Code,
and so on?
Do you know how current contracts and other legal obligations
affect your business?
H. Dealing with professionals
Do you have and use an accountant, attorney, and business
consultant?
Do you use outside advisors?
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