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.
Compliance Audit. A compliance audit is an independent review of an. institutionâs compliance with consumer protection laws. and regulations and adherence to internal policies and. procedures. The audit helps management ensure. ongoing compliance and identify compliance risk. conditions.