AUDIT CLASS 1. Offer suggestions on the comment. 2. Validate ideas with experien

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AUDIT CLASS

1. Offer suggestions on the comment.

2. Validate ideas with experiences.

For this..

The word audit is commonly associated with investigation and reviewing. It is often used the term audit as an equivalent of an inspection, when it is not. Inspections are tools intended to detect errors on product or services prior to release to the customer while audits purpose is to determine if certain requirements or specifications are being met. It is important to highlight that if there is no such criteria to compare under the evaluation, it can be considered to be a questionnaire or a review. Audits can be performed by First-, Second-, and Third-party auditors. Depending of the scope of the audit the organization can decide if perform it internally or externally There are 3 general types of Audit: 1.The Product Audits are usually conducted internally by the organization. Common clients come from the management team or as part of the quality system. The intent is to examine the final product form and functionality after inspection. A service audit it's also included into this category, as for example completion of records or organization of tools, among others. 2.The Process Audit evaluates the effectiveness of an operator or specific method towards predetermined instructions or standards. It is less complex than the system audits. Resources are examined under this type of audit, such as people, equipment and materials. 3.A Quality Management System Audit or a System Audit examines the management system of the organization; it looks everything within the system such as processes, product or services, supporting areas such as Purchasing, Customer Service or Engineering. It looks for conformance of company policies, contract commitment, and regulatory requirements. This audit evaluates what must be done meeting certain requirements, for example, Good Manufacturing Practices (cGMP's) and ISO standards; but it do not specifying the "how" since this is left up to the organization being audited. Audits are powerful assessments in which organizations are constantly challenged to provide product and services that meet high quality standards.

Explanation / Answer

Views about Audit are correct.

However, there are other types of audits like financial statements audit, tax audit and cost audit etc. Tax audit concerns with the organization's obligation to follow tax guidelines and payment due dates. Financial statements audit are scrutinity of the financial position on a true and fair basis reflecting in the financial statements adhering to the rules of accounting.

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