What type of audit is performed for the internal purposes of a company?

The type of audit that is performed for internal purposes within a company is known as an internal audit. Internal audits are carried out by employees of the organization or by a dedicated internal audit team. The primary aim of these audits is to assess the adequacy and effectiveness of the company's internal control systems, processes, and quality management practices.

Internal audits play a crucial role in ensuring compliance with internal policies, regulatory requirements, and ISO standards such as ISO 9001. They help identify areas for improvement, ensure that processes are being followed as intended, and assist in risk management. By focusing on internal performance, the organization can drive continuous improvement and enhance overall operational efficiency.

In contrast, the other types of audits serve different purposes. For instance, third-party audits are conducted by external organizations to assess compliance with specific standards on behalf of certification bodies. Second-party audits involve evaluations conducted by customers of their suppliers, focusing on supplier compliance and quality management. External audits are typically performed by independent auditors who assess the financial statements or compliance of a company with relevant regulations or standards. Each of these serves a different stakeholder need and is distinct from internal audits, which focus on internal processes and compliance.