Education and Career Forum

Could u please mention to me What precautions are needed during Audit Program by Auditor?

dear friend,

An audit programme consists of a series of verification procedures to be applied to the financial statements and accounts of a given company for the purpose of obtaining sufficient evidence to enable the auditor to express an informed option on statements.
The following precautions may be taken during audit program by auditor:

• Transactions of the concern should be classified under appropriate heads and may be satisfied if wide variations.
  
• Study and evaluation of internal control system should be exercised for its efficiency.
  
• Selection of transactions should be made in such manner so that basis cannot enter in the selection.
  
• Identification of the area where the check may not be made.
  
• The number of transaction to be selected for each test check plan should be predetermined based on degree.
  
• Materiality of the error as a result of check must be predetermined and criteria be fixed to judge the same.

All the best...................

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