Audit and Inspection

Audit and inspection are processes used to evaluate and verify the accuracy and compliance of an organization’s operations and financial reporting. An audit typically reviews financial records and systems to ensure they comply with laws and standards, aiming for transparency and accountability. Inspection, on the other hand, involves checking physical assets or processes to ensure they meet specific regulations and quality standards. Both methods help organizations identify areas for improvement, mitigate risks, and assure stakeholders that adequate controls are in place. They play crucial roles in maintaining trust and integrity in various sectors.