Page 92 - DCOM204_AUDITING_THEORY

Auditing Theory

Notes Sample audit programme is as follows:

Table 5.1: Audit Programme: Purchases

Procedures Check List
Check purchase requisition for serial numbering
Check whether purchase requisitions were signed by (name or the person
authorized)
(and other procedures for this area)
Were quotations called by (name of the person authorized)?
Obtain evidence of comparative statement prepared by (name of the persons
authorized)
(and other procedures for this area)

Notes Audit program or audit program is not a name of any computer program. Also it
has nothing to do with computer programming in any way. However, audit programs can
be made using computer software in computer assisted auditing environment.

5.15 Quality Control for Audit

General

Any audit institution should seek to carry out its audit work at a consistently high level of
quality in the following dimensions:
1. Significance and value of matters addressed in its audits;
2. Objectiveness and fairness in the basis of assessments made and opinions given;

3. Scope and completeness in the planning and performance of audits carried out;
4. Reliability and validity of the opinions, or findings and conclusions, appropriateness of
the recommendations and relevance of other matters presented in its audit reports and
other products;
5. Timeliness of the issue of audit reports and other products in relation to statutory deadlines
and the needs of anticipated users;
6. Clarity in the presentation of audit reports and other products;
7. Efficiency in the performance of audits and audit-related work; and
8. Effectiveness in terms of results and impacts achieved.

In pursuit of this goal, an audit institution should establish policies, systems and procedures that
will encourage actions leading to high quality and discourage or prevent actions that might
impair quality. These quality controls should be developed and implemented with respect to all
phases of the audit process, including:

1. Selecting matters for audit;
2. Deciding the timing of the audit;

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