Audit is formal & done by internal Quality assurance dept of organization or by external auditors but is for sure done by people/group not from project.------my project got audited last week and it was red in some areas and you can guess what might have happened after that
walk through is informal, no hard & fast set criteria or evaluation. i am preparing for another round of audit in next quarter and often using walk through as one technique to help me in assessing and moving red areas to green
hope this may help you to extract answer .
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