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Dear Friends, I would like to answer the question as below: Inspection is an observation. Inspection is to examine closely any equipment or facility. It may be formal(with a plan and a check-list) or informal.Examples: 1. Inspection of a Fire Tender with a checklist for its operability, worthiness of its fire water pump , fire monitor etc.2. Inspection of the tank shell for finding any deformity, thinning etc. Audit is a process of evaluation and to measure performances that is based on Standards & Guidelines, identifies the compliance & non-compliance based on Standards and is neutral. There are three types of audit namely: 1) Legal Compliance Audit 2) Internal Standards Audit 3) System Audit Audit is the verification of a Process, a System or a Procedure. Examples:1. Audit of Firewater pump house. 2. Audit of a Process Plant 3. Audit of Quality Control Laboratory. Here the systems and processes are verified with respect to a documented procedure. Thus the audit of a quality control laboratory will involve the verification of the existence of the quality control procedure, sampling procedure, reporting procedure etc. Learn more about the difference between a home inspection and energy audit by visiting: http://jimbushart.wordpress.com/2012/06/14/difference-between-the-home-inspection-and-the-energy-audit/
a plan is how your going to do somthing and an act is doing it
usually audit is limited to financial analysis but due diligence is not only analysis of financial statments but also business plan ,sustainablity of business,future aspects ,corporate and management structure,legal issues etc the audit gives us positive assurence that is true and fair view whereas due diligence gives us negative assurence i.e identify the risk if any , audit is of recurring nature but due diligence is occasinal event
It depends on the focus or intent of the audit. Typically, management retires to develop a plan to implement recommended changes and corrrect shortcomings, then commences operations on that plan.
difference between audit program audit & note book
A Programme Is Used For A Day Plan And A Curriculum is Tasks That You Plan To Do Some Time Soon
Program means a plan, usually step-by-step. Programme is like a play or sporting event program that has the events that will occur.
An audit is considered a risk assessment, therefore these terms are interchangeable. And audit plan can have various meanings, some consider this to be an annual audit plan which includes all the audits that will occur within a companies calendar year. Others consider this to be the plan for undertaking a specific audit. Its all in how you define the words, audit plan, audit schedule, audit check list.
audit plan is the most important part of audit. the auditor should arrange the activity done in audit.
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what is the difference betwen objective and plan
One very obvious difference is the that entitlement programs are arranged by governments to financially assist individuals. Whereas, Pension programs are set up by employers for employee retirement plan options.
Audit planning is a procedure which is used to see and prevent potential problems. This is done at the beginning of an audit process.
There is no difference between a unit plan and a scheme of wok. thank u. By highkult