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.
Full Scope vs. Limited Scope Audits in Retirement Plans. INTRODUCTION. Audits are an essential part of the Employee Retirement Income Security Act (ERISA) reporting structure. However, the audit aspects that make employee benefit audits different from general financial audits, mean that their benefits are frequently misunderstood.