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.
Conducting an Audit. The purpose of a product audit is to determine that the final product is void of any defects and meets the requirements. If it does not meet the requirements, the auditor should document the findings, list the facts and suggest a corrective action to eliminate the problem.