Can I write advantages of audit program

1 answer

Ravi Staff April 16, 2019

 
History of this question

How does an audit programme help to plan and perform the audit?
M16E

How does an audit programme help to plan and perform the audit?
N12R

How does an audit programme help to plan and perform the audit?
N18R

How does an audit programme help to plan and perform the audit?
P16M

Answer (Yes you can write advantages)
The audit programme is
helpful both in planning and performance stages of audit as follows:
(i) The audit programme lists down areas of audit before commencement.
(ii) The audit timing is built therein; thereby it becomes a schedule of audit plan.
(iii) The staff that is entrusted with the audit assignment is also specified. It is a plan of
resources allocation of the firm.
(iv) It specifies the procedures to be checked during the audit.
(v) As the audit work is split into various elements of procedures to be performed, the
audit programme acts as a guiding chart or check list during the performance of
audit.
(vi) Since the staff in charge of each work is specified and they sign the programme, it
extracts the responsibility from the audit assistants.
(vii) The working papers of the audit staff can be reviewed against the audit programme
which helps a base of reference for evaluation of the performance before reporting
on the financial statements.
(viii) It also helps in preparing a diary of the performance and plan also base for billing
the clients for the time manpower involved in the audit.

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