Strategic Implications of a Swot Analysis

Topics: Internal audit, SWOT analysis, Strategic management Pages: 4 (848 words) Published: November 18, 2012
Name: - Nana Kesewaa Dankwa
Index Number:-PGDBA/PM/022/0912
Strength, Weaknesses, Opportunities and Threats (SWOT) Analysis is an important device for audit and analysis of the overall strategic position of an organisation and its environment. It aims to elicit tactics which will generate an organisation specific operational model that will best align an organization’s resources and capabilities to the requirements of the environment in which the firm operates ( Therefore, for any organisation to survive and achieve its mandate, it needs to strategically and competently undertake a SWOT analysis of its environment to fashion out activities which will enable it pursue and achieve its mission and vision. The Internal Audit Agency

The organisation selected for this assignment is the Internal Audit Agency (IAA). The IAA was established by the Internal Audit Agency Act 2003 (Act 658). The Agency’s mission is to exercise oversight responsibility over internal audit practice in the public service by setting standards, providing quality assurance and supporting capacity building for good corporate governance, effective risk management and controls through highly skilled and motivated workforce. Its vision is to be a Centre of Excellence in Africa in promoting best practices in internal auditing. The strategies adopted by the Agency to achieve its set objectives include; 1.Effectively promoting internal audit practice in Ministries, Departments and Agencies (MDAs) and Metropolitan, Municipal and District Assemblies (MMDAs) 2.Increasing public access to information on internal audit activities 3.Creating a congenial environment for high performance work in the Internal Audit Agency 4.Improving good governance and accountability in MDAs and MMDAs SWOT Analysis Model of the Internal Audit Agency

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