SECOND PARTY AUDITS
The ISO Pros
Auditing is one of the most crucial factors of maintaining and keeping a company’s financial health in-check. Without it, several businesses, corporations, and organizations would be blind as to what’s happening with their company’s finances. This is the same reason why the International Organization for Standardization (ISO) set up a few milestones for companies to see and to check whether or not they’re up to the global general standard for businesses.
There are a few kinds and types of auditing and they’re mostly classified as First Party Audits, Second Party Audits, and Third-Party Audits. Understanding them is key to determining what type or kind of audit you need for your company or your business.
First Party Audits
This type of audit is performed within a specific organization – and its goal is to determine and to measure the capabilities, strengths, as well as areas of improvement of the business or divisions part of it.
Companies can opt to hire an independent organization to perform the internal audit for them and it’ll still be part and considered as first-party audits
Second Party Audits
Second Party Audits, on the other hand, is the type of audit that has a supplier-customer relationship. For instance, your customers can perform an audit of your company to see if you’re conforming or complying with the contract you’ve set, the same way you can audit your supplier.
Second Party Audits are important because they can greatly influence the decisions of either the customer or the business (from the supplier).
Third-Party Audits
Lastly, a Third Party Audit is the type of audit wherein no supplier or customer is involved – and the auditing body would be an independent organization. The goal of Third Party Audits is to ensure that your business or your company is complying with the general standards set.
This is imperative because should the Auditing Body find errors within the company’s actions, there could be corrective action involved or worse, penalties if the requirements are not met.
Do You Need Second Party Audits?
Many companies and business owners fail to see the importance of Second Party Edits because of the fact that they’re just in relation to the supplier and the customer. However, this is important because this audit is a part of what will determine the decisions of the customer to the business being patronized or the business to the supplier.
There are various companies that can assist you with Second Party Audits should you have a shortage of reliable Auditors within your organization. We have been deemed as the best, the most reliable, and the most trusted Auditing Bodies in the industry and it’s because of the quality and the speed of the deliveries we perform.
Second Party Audits can be performed by a company should they be in need of the following:
- To approve a new supplier for the delivery of parts and other components needed
- To develop a new product and evaluate the effectiveness of each product
- To investigate and assess the quality of the products from their current supplier
- To check and find alternative sources of parts if the company needs to save money
- And many more
High-Quality Audits
Whether you’re looking at an option to strengthen the supply chain of your company, or if you are looking to land a contract with a supplier who you think is “better,” you can count on us and our team of experienced, tech-savvy, and dedicated Auditors.
The Second Party Audits that we perform will be for the benefit of our clients. Whether you’re a customer looking to audit the business you’re looking to patronize and use; or if you are a business who wants to check on the quality of the services by your supplier, you can count on us.
Through the in-depth, concise, and direct auditing that we perform, you will never see a downside of the Second Party Audits that we perform. It will all be for the benefit of the customer or a business’s goal to see if their supplier is compliant with the standards.