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Importance of Internal Audit.

 Before we start with internal audit we should understand, what is audit ? Audit is a process of examination or revalidation of the work done other than the core owner of the that area or work done by the person. Audit is basically done by external agencies or internal agency. External agencies are customers, government agencies or third party agencies. Customers do Audit to check how well their product is manufactured, and all compliance are followed during production of their product that are mutually agreed in the contract. Customers also do initial audit to check whether company is able to give them as per desired requirement in terms of quality and quality and some other special requirements. Government agencies do Audit to check is company is following legal compliance that are required to run the company. Tax, safety of employees, safety of women, control of environment are some examples of leagal requirements. Third party agencies are hired by the customers, government or even

Audit in Manufacturing Industries

 What is Audit? Audit is a process of examination or revalidation of the work done other than the core owner of the that area or work done by the person. For example if you gave your car for repairing work and service center have you back the car back and you check the work of service team, it is a type of audit. Person how did the repairing work and he himself check the quality then it is not an audit but his manager or delivery team check repair work before hand over to the customer then also this process is known as audit. Audit is on-site varification of the fulfillment of the compliance. Mostly Audit is done on-site but now a days some audit can be done online also. Some people or institute take audit as a burdon but it is process that improves the existing process or system and eliminate any loop holes in the system. Different type of Audit? As per ISO 19011 there are three different types of audit, this is on the basis of what is auditing. Process Audit System Audit Product Audi