Efficient Auditing is generally conducted in case of public enterprises to see whether the return on the capital outlay justifies the existence of the enterprise. Efficient audit is sometimes called propriety audit. Kohler defines it: “Propriety audit is that which meets the tests of public interest, commonly acceptable customs and standard of conduct”. It is that auditing in which the various positions and actions of the executive of a concern are examined t fine out whether they are in the interest of public and whether they meet the standards of conduct.
Definition