Definition: is an evaluation of a business’s or a company’s social, moral, and environmental performance, which is done by an independent and neutral third party. In other words, it is a method of figuring out a company’s level of commitment to ethics. While being more connected with the qualitative research rather than with a quantitative one, the process of ethical auditing requires specific tools and methods to be done effectively. For instance, it may involve analyzing company’s formal ethical codes or training programs, studying the past ethics issues that can be traced in company records, or interviewing the employees about the matter.
In a Sentence:
The next ethical auditing analysis will be conducted in June. Thankfully, our company doesn’t seem to have any breaches in this area.
They’ve been dealing with the ethical auditing for more than two weeks now, with all those interviews and questionnaires.
Each ethical auditing helps us find the issues we may not notice during the day-to-day operations.
Synonyms and related words: ethical audit, auditing evidence, ethical issue, financial audit, auditor