What Does It Mean To Be Audited?

FP Complete provides an inspection service called “Audit” for blockchain-related engineering projects. This audit involves looking at samples of the engineering work, as provided to us by a client, and comparing them to sound engineering practices based on years of industry experience.

An audit certification means that time and effort has been spent examining such information, and that it appears to satisfy an acceptable percentage of our published engineering standards. No audit involves examining 100% of the work; audits are based on sampling. No audit implies an attempt to find hidden or suppressed information; audits are based on information voluntarily provided to us, staff permitted to communicate with us, and/or resources to which we have been granted access.

An audit certification does not imply that the project is free of defects, financially sound, a good investment, or suitable for any particular purpose. Also, it does not imply that any financial audit or other kind of audit (business practices, environmental responsibility, etc.) was performed or passed. It simply says that the samples taken from the information provided, as evaluated and occasionally using subjective opinion, achieved a passing score on the FP Complete engineering audit criteria. No warranty or guaranty is made or implied.

The projects we audit are typically still undergoing active change. No one should use any FP Complete audit result past the expiration date shown, and even then, bear in mind that an audit is inherently looking at the past, rather than the project’s latest status or newest bit of code.

Every project we audit is part of a larger system. Important limitations, problems, omissions, or defects may characterize the larger system outside the audited project, and are not accounted for in the audit results. In some cases, the same or similar name may apply to the work FP Complete audited and to some larger or different work, and FP Complete is not responsible for any confusion that may result.

As industry practices and technology improve, audit criteria are expected to increase or change. Therefore a given level of audit certification at one time is therefore not equivalent to that same level of audit certification at another time. To understand the criteria that were used in a given audit, and for information on any special exceptions noted, be sure to examine the actual audit report, available from the FP Complete website and/or in a digitally signed publication from FP Complete.

As of this writing, the marks and certifications available from FP Complete include engineering underway, audit underway, bronze, silver, and gold. Here is an approximate summary of the criteria for each.

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