What type of audit is an organization conducting an assessment of a supplier considered?

When an organization conducts an assessment of a supplier, it is referred to as a first-party audit. This type of audit is specific to the organization’s own operations, which includes examining the processes and practices of its suppliers to ensure they meet the organization's quality standards and requirements.

First-party audits are undertaken by the organization itself or by its own employees, focusing on its own management systems. They are essential for organizations to ensure that their supply chain meets predefined criteria and helps in the continuous improvement of supplier relationships and performance. This assessment aids in verifying compliance with the organization's policies and identifying areas where suppliers may need improvement.

In contrast, internal audits are typically assessments conducted by an organization's own internal team on its processes and systems, while third-party audits involve an external entity assessing compliance against industry standards or regulations. Compliance audits are focused specifically on adherence to laws, regulations, or contractual obligations rather than a broader assessment of supplier performance.