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.
There are three discrete types of audits: product (which includes services), process, and system. However, other methods, such as a desk or document review audit, may be employed independently or in support of the three general types of audits. Some audits are named according to their purpose or scope. The scope of a department or function audit is a particular department or function.