Audits are commonly used in businesses to verify if an organisation’s business activity and their relevant outputs comply with regulations. These outputs include planned arrangements to deliver customer, stakeholder and regulatory duties in an effect manner and in line with their stated objectives. An audit can also help an organisation uncover avenues for improvement, change and growth, as well as identify certain risks within the business model at play.
There are three types of audits:
- First party Audits
- Second party Audits
- Third party Audits
Management systems in place within an organisation are commonly audited. There are many valuable reasons why. Clients and stakeholders rely on a certified management system to establish if businesses consistently meet customer requirements and applicable regulations.
Auditees, too, can gain certain benefits from the procedure. An audit can provide management with relevant information on how to meet certain business objectives within the management system, as well as uncover problematic areas and identifying opportunities for improvement and managing potential risks.