ABSTRACT
The audit program defines what the auditors are going to review. In many respects it serves as a roadmap, showing auditors how to navigate the engagement, and a fence, keeping auditors within the stated objectives. When developing the audit programs, it is important that they be done based on risks. The audit program should be reviewed and agreed upon before testing begins so a strategy can be prepared before fieldwork starts. Although the audit program defines what will be tested, why, and in what sequence, it is not intended to be an inflexible document. Status updates consist of a summary of activities performed, in progress, and upcoming. With that in mind, they relate back to the progress being made on the completion of the audit program. Audit steps should be arranged in descending order, addressing higher-risk items first, and lower-risk items as needed and time permits.
