Audit program Discuss the purpose of the audit program and its importance to the auditor
An audit program specifies the actual procedures to be performed in gathering the required audit evidence about the assertions embodied in the client's financial statements. Because the audit program guides the overall conduct of the audit it is the single most important piece of documentation in an audit engagement. The program is an effective means for:
? organizing and distributing audit work.
? monitoring the audit process and progress.
? reviewing for possible omission of material areas from the audit.
? recording the audit work performed.
? reviewing the completeness and persuasiveness of procedures performed.
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