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V is for Verification

David Trevelyan
December 22, 2020
Advent Alphabet Series

Verification is an important sibling to audit. Whereas an audit endeavours to see evidence of conformity, verification is about substantiating a claim or a truth.

Verification can often be seen as part of the output of a process; a classic example is batch verification to ensure conformity. Verification can be a useful tool to reduce audit fatigue in businesses. Instead of waiting for audit time, good approaches can be implementing checks on process outputs to verify that you are getting conformity in the process. This might seem obvious, but extensive evidence suggests it might not be.

A real-world example is verifying bank financial records to establish that branches have completed their banking according to schedule. In this example, the business would wait until “audit” time to find masses of unbanked money in safes, rather than establishing an ongoing monitoring regime that verifies conformity.

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