Managers at all levels engage in the managerial function of controlling to some degree. Two traditional control techniques are budget and performance audits. An audit involves a physical examination and verification of the organization’s records and supporting documents. A budget audit provides information about where the organization is with respect to procedures followed for financial planning and control, whereas a performance audit might try to determine whether the figures reported are a reflection of actual Performance.

Controlling involves measuring performance against goals and plans, and helping correct deviations from standards. As a matter of fact, controlling facilitates the accomplishment of plans by ensuring that performance does not deviate from standards.

Controlling is not just limited to organization’s financial state, but also spans across areas like operations, compliance with company policies and other regulatory policies, including many other activities within the organization.

The management functions thus most effectively cover the broad scope of a manager’s duties and responsibilities. Though the nature and complexities faced by businesses have undergone a vast change over the years, the functions of management remain the same.

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