A postaudit involves checking whether expected results are actually realized.
A post audit is an examination of the results of a capital budgeting investment. This analysis is performed to determine whether the assumptions included in the original capital proposal were correct and whether the project outcome was as expected.
The purpose of the post-audit review process is to ensure that management has addressed all of the recommendations included in the Audit Report. The Post-Audit Review occurs shortly after the agreed-upon implementation deadline, which management committed to in the management response.
The payback method calculates the time required to "pay back" or recover the initial investment. The payback period, which is usually expressed in years, is the amount of time it takes to generate enough cash receipts from an investment to cover the cash outflow(s) for the investment.
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