New product development is a critical part of any enterprise and internal audit can help to assure controls over the resources are effective. This sample audit program sample includes an overview for understanding and engaging in this important area. It specifically includes risk analysis, special and operational considerations, and evaluation components for an audit review.
This document can be used as a general guide to understand and review the product development process. Organizations should continuously update and monitor the processes included in this document to ensure that they accurately reflect business operations.