Is aimed at identifying the shortcoming in technologies used by the company and providing recommendations on how to eliminate them.
Technology Audit poses certain challenges for the company, since it is a lot more difficult to perform an unbiased assessment of operation effectiveness than compliance of financial statements with established domestic or international financial reporting standards.
What does Technology Audit focus on? It focuses on determination of performance and efficiency of operations.
Purpose of Technology Audit - according to its intended purpose, Technology Audit is oriented towards the future activities of the company.
As far as the use of information and conclusions is concerned, information obtained in the course of Technology Audit is deemed confidential. The users of this information are the company’s managers.
TECHNOLOGY AUDIT PROCEDURE TYPICALLY INCLUDES
THREE KEY STAGES
includes a survey of technologies used by the company and analysis of its positions on the use of available technologies.
includes a survey of technologies used by corporate competitors and in the industry overall, as well as determination of technological standards.
involves comparison of technologies used in the company with determined technological standards for efficiency and potential evaluation. To achieve this, technology portfolio of the company is analyzed. To carry out Technology Audit, the company forms an audit group consisting of experts who are dealing with processes implementation and specialists who carry certain authority in the company, but are not directly involved in technological processes. When performing Technology Audit, the technologies, processes, operations and procedures used in the company are analyzed in order to determine their efficiency, quantitative indicators (number of patents, new products, etc.).
Insured Event Expert Evaluation and Loss Estimation