What is Audit and Inspection in Software Testing?

Audit is a systematic method to decide how the actual testing process is performed within an organization or a team. Normally, it is an autonomous examination of processes concerned for the period of the testing of a software. As per IEEE, it is an analysis of documented processes that organizations execute and follow. Types of audit include 

1. Legal Compliance Audit 
2. Internal Audit
3. System Audit.

Inspection is a proper system that involves formal or informal technical reviews of any relic by identifying any error or gap. As per IEEE94, inspection is a formal evaluation method in which software requirements, designs, or codes are analyzed in detail by a person or a group other than the author to detect faults, violations of development standards, and other problems.
Formal inspection meetings may include the following processes: 

1. Planning
2. Overview Preparation
3. Inspection Meeting
4. Rework 
5. Follow-up.