A system and method for carrying out non-destructive testing and inspection of test objects to assess their structural integrity uses a calibration module configured to provide V-Path time of flight (TOF) correction data over a plurality of object thickness points, obtained from an object or objects having known thicknesses using the same physical probe as is used for the inspection measurements. When a probe launches acoustical waves into a test object and an instrument and a control system compute a time of flight value of the acoustical waves launched by the probe, the pre-obtained V-Path TOF correction data is used to correct the measured time of flight computed by the instrument.