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.
Answer: We specialize in providing SOC 1-SSAE 16 and SOC 2 audits to clients with 1 to 200 employees. In some cases, we will provide services to a larger business. 5. SOC 1 and SOC 2 audits can be either Type 1 or Type 2 - what does this mean? Answer: A Type 1 audit consists of inquiry and observation of processing and controls for a single point in time - such as May 31, 2013. No testing of the controls are done. A Type 2 audit consists of of inquiry, observation, and testing of transaction processing and controls that were in place over, for example, a 6 month period. The Type 2 audit provides the control validation through testing that is most often sought after by clients and prospects.