Strategy audit

I've not seen much in the way of strategy audit, but it seems an interesting area (particularly for the auditor). Perhaps the reason that it is not subject to frequent audit is that it tends to be the domain of senior management, that don't want audit sniffing around.

Some questions I'd want to ask:

• Is the strategy formation (and update) process documented?
• Is there an up-to-date organisational strategy?
• Has the strategy been communicated to the right people?
• Are all the necessary inputs to strategy formation in place (market information, competitor information, technology information, internal information)? (this would use PESTLE, Porters 5 Forces, 9Ms, etc)
• Are the right people involved in strategy formation? (sales, marketing, finance, risk management, technology, research & development)
• Do the strategy formers have the right qualifications, experience and skill?
• Are there any training requirements? Are these being met?
• Does the strategy flow through from the single-line mission statement to more detailed objectives, and right down to individual performance objectives?
• Is there a feedback loop on performance that allows validation of the strategy?
• Is there a process to accommodate significant events into the strategy?