What is the difference between Audit and Inspection ?

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What is the difference between Audit and Inspection 

While both audit and inspection involve examination and assessment, they have different purposes and scopes.

Audit:

Purpose:  An audit is a systematic review and evaluation of processes, procedures, systems, or financial records to ensure compliance with standards, regulations, or best practices. It focuses on assessing the effectiveness, efficiency, and adequacy of controls and procedures.

Scope: Audits can cover a wide range of areas, including financial audits, compliance audits, internal audits, and quality management audits.

Outcome:  The primary outcome of an audit is often a formal report highlighting areas of compliance, improvement opportunities, and recommendations for corrective actions.

Inspection:

Purpose: An inspection involves a physical examination or observation of equipment, facilities, or processes to identify defects, hazards, or deviations from standards or regulations. It focuses on ensuring that equipment and processes meet safety, quality, or regulatory requirements.

Scope:Inspections are typically focused on specific areas or aspects, such as equipment inspections, safety inspections, regulatory inspections, or facility inspections.

Outcome: The outcome of an inspection usually includes findings regarding the condition or compliance status of the inspected items, along with recommendations for corrective actions if necessary.

Summary, while audits assess overall compliance and effectiveness of processes or systems, inspections focus on the physical examination of equipment or facilities to ensure they meet specified standards or requirements.