AUDIT TESTING AND THE AUDIT PROGRAM
Type of tests
a. Procedure to obtain an understanding of internal control
b. Test of controls
c. Substantive testing of transactions
d. Analytical procedures
e. Test of details of balances
Evidence Mix
a. Physical examination
b. Confirmation
c. Documentation
d. Observation
e. Inquiries of client
f. Reperformance
g. Analytical procedures
Design of the Audit Program
− Obtaining and recording and understanding of the audit area/subject
− Risk assessment and general audit plan and schedule
− Detailed audit planning
− Preliminary review of the audit area/subject
− Evaluating the audit area/subject
− Compliance testing (often referred as test of controls)
− Substantive testing
− Reporting (communicating results)
Audit Process
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