An audit of new product development is an appraisal of the effectiveness of the processes by which the new product was developed and brought to market. The purpose of an audit is to identify opportunities for improvement in the product development process and to make recommendations for corrective action. An audit may be conducted at any stage of product development, from initial concept through final commercialization. The scope of an audit varies depending on the stage of development and the specific needs of the organization. However, common elements of an audit include a review of the product development timeline, milestones, and deliverables; an assessment of process compliance with internal regulations and external standards; and interviews with key personnel involved in the development process. The findings of an audit can be used to improve the efficiency and effectiveness of new product development, and to reduce the risk of costly errors or delays in commercialization.