I need the full brief for the answer my subject is Auditing -------- Q2- What is...

I need the full brief for the answer my subject is Auditing

--------

Q2- What is audit procedure? What is the difference between audit procedure and audit program ?

Expert Solution

Answer:

Meaning of audit procedures: Audit procedure refers to methods & techniques used to obtain the audit evidence for the execution of the audit & enable the auditor to make a conclusion or express an opinion on the financial statements.

Difference between audit procedure and audit program:

The audit program is commonly prepared to allocate work to team members which may include the list of audit procedures while audit procedure refers to methods 7 techniques used to collect the audit evidence.
Audit procedures are the part of audit program such as analytical review, inquiry & confirmation, etc & hence audit program is broader than audit procedure.
Audit programme helps the audit staff to conduct the audit it also set the resposiility of staff for the task allocated to him while audit procedure helps them in obtaining the evidences so that auditor will form the opinion based on that evidence.

ekkarill92 answered 2 years ago

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