Definition
A quality audit is a systematic examination of an organization's quality management system, processes, or products to assess compliance with quality standards, regulations, or internal policies. Quality audits may be conducted internally by the organization's own audit team or externally by independent auditors or certification bodies. Audits help identify areas for improvement, ensure regulatory compliance, and maintain the effectiveness of the quality management system.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.