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.
systems audit. auditing approach an approach to auditing that utilizes a systems approach. By using a systems audit to assess the internal control system of an organization, it is possible to assess the quality of the accounting system and the level of testing required from the financial statements.One shortcoming of systems audit is that it does not consider audit risk.y using a systems audit to assess the internal control system of an organization, it is possible to assess the quality of the accounting system and the level of testing required from the financial statements. One shortcoming of systems audit is that it does not consider audit risk.