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Elevate Your Audits
  • Manufacturing, Quality, Service
  • Open Access

Elevate Your Audits

Upgrade your conventional audit program with a risk-based approach

Publication:
Quality Progress
Date:
January 2024
Issue:
Volume 57 Issue 1
Pages:
pp. 16-23
Author(s):
Coleman Sr., Lance B.
Organization(s):
IDEX Health and Science LLC, Oak Harbor, WA

Abstract

This article demonstrates auditing's role in risk management. When applying a risk-based approach, you must look at risk when structuring the audit program, as well as consider risk when planning, executing, reporting and closing individual audits. Applying a risk-based approach to auditing also enhances the audit program’s performance and contributions. The tools decision tree, 2 x 2 risk matrix, Pareto diagram and risk rating demonstrate how risk and audits intersect. An example of conventional vs. risk-based auditing shows how risk-based auditing can provide greater value to the organization. 

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