GDP measures the monetary value of final goods and servicesâthat is, those that are bought by the final userâproduced in a country in a given period of time (say a quarter or a year). It counts all of the output generated within the borders of a country.
Product audit â An examination of a particular product or service (hardware, processed material, software) to evaluate whether it conforms to requirements (that is, specifications, performance standards, and customer requirements). Process audit â A verification that processes are working within established limits.
An audit is an evidence gathering process. Audit evidence is. used to evaluate how well audit criteria are being met. Audits. must be objective, impartial, and independent, and the audit. process must be both systematic and documented. There are three types of audits: first-party, second-party, and. third-party. First-party audits are internal audits.