Audits are usually performed by an audit manager. They aim to evaluate compliance with one or several regulations, internal policies, or other compliance drivers. Audits are usually conducted by an outside auditor. This could be a corporate auditor or an independent auditor. Audits allow companies to check everything internally and externally. Audit program managers and corporate compliance managers are always looking for ways to automate or improve their audit management.
An audit is a detailed investigation of the activities and processes of organizations using various methods such as surveillance, data collection, record checking, interviews, and other means. Audits look at all documentation to verify compliance with regulations and policies. Audits can be very time-consuming and tedious because they require multiple steps. Audits are often conducted by outside bodies, which allows for objectiveness and eliminates any biases that might arise if the initiative were internal.
The PMBOK (r), defines a quality audit as “a structured, independent process to assess whether project activities are in compliance with organizational and project processes, policies, and procedures.”
Audits are used to assess compliance with regulations, internal policies and other compliance drivers. Audits can be done by the Project Manager as a self-check or by a third party. The PMBOK (r), Guide– Sixth edition outlines four types of audits. Each one examines specific processes.
- Quality Audits Review the whole project’s use and planning processes. This is a general audit that is part of the Manage Quality process. It examines all processes in a project at high levels.
- Risk audits examine the use of risk management processes to manage potential risks that could affect the project’s outcome.
- Audits of procurement examine the procurement process or how you will obtain goods and services to complete your project.
- Configuration audits review project configuration processes. This includes how the team manages and executes the deliverables’ key specifications and assets.
Audits of project management quality are intended to improve processes. This involves identifying and fixing problems at a systemic level.
Audits are a time-consuming task that involves planning, performing and reporting in order to gain a complete view of the ongoing investigation. The Audit allows for a thorough examination of goods or services.
An audit is an independent investigation of any organization using detailed surveillance methods such as data collection and records checking. Interviews are also included. Audits are generally designed to ensure compliance with all internal policies, documentation, regulations.
Because they require multiple steps to complete the investigation, they are more complex and time-consuming. An Audit is better than an Inspection. It is typically conducted by independent bodies that prevent complex frauds within the organization. Additionally, an audit helps to maintain moral control over employees as they are constantly in fear of having an Audit conducted if there is any fraud within the company.
