What is conducted to examine a management system's compliance formally?

The concept of auditing is essential in evaluating a management system's adherence to specific standards and regulatory requirements. Audits involve a systematic, independent examination of records, processes, and operations to determine if the system complies with the established criteria. This process typically includes reviewing documentation, interviewing personnel, and observing practices to ensure that the management system operates effectively and meets legal obligations.

Audits can uncover discrepancies, inefficiencies, or non-compliance, allowing organizations to take corrective actions and improve their operational practices. Therefore, the primary purpose of conducting an audit is to formally assess compliance and the effectiveness of management systems, which is why it is identified as the correct answer in this context.