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.
The following are the major differences between auditing and investigation: 1  The process of inspecting the financial statement of an entity and then giving an independent opinion on it is known as Auditing. A careful and detailed study of the books of accounts to discover truth is known as Investigation.