This video explains the concept of Audit Management in the SAP S/4HANA Quality Management (QM) module. Here are the key points:

1. Audit Management: The video explains that audit management is a systematic, independent, and documented process used to obtain audit results and evaluate these results objectively to determine the extent to which the criteria of the audit have been fulfilled. It is used in organizations to regularly check a process or a particular object to ensure it is working as per predefined criteria.
2. Audit Management Functions: The video outlines the two main functions of audit management: audit planning and audit execution. Audit planning involves defining the audit plan, defining the audit, assigning the question list to the audit, and releasing the audit. Audit execution involves answering the questions, evaluating the questions, creating corrective and preventive actions if required, and following up.
3. Components of Audit Management: The video describes the components of audit management, which include the audit plan, audits, question lists, and corrective and preventive actions. These components are hierarchically structured.
4. Audit Plan: The video explains that an audit plan is the main planning instrument for the administration of audits. It consists of all audits planned for a particular period of time. An audit plan can also contain other audit plans as well as the audits themselves.
5. Audits: The video demonstrates that audits are assigned to an audit plan. Each audit is associated with a question list and, if required, with corrective and preventive actions.
6. Question Lists and Corrective Actions: The video shows that question lists are assigned to audits. If any corrective or preventive actions are required, they are created during the execution phase of the audit.