ADVANTAGES OFAUDIT PROGRAM
1. SUPERVISION OF WORK:
The editor can judge the efficiency of his audit team with the held of all audit programs. He is in a position to know the progress of the work. He can see at any time that what part of the work has been completed and what remains to be done.
2. DIVISION / DISTRIBUTION OF AUDIT WORK:
The division of audit works is very useful for the audit staff for maintaining the difference of works among senior or junior clerks according to their ability and skill so that the work is divided to get better results.
3. SYSTEMATIC UNIFORMITY OF WORK:
Audit program helps in settling all the things in advance, so the systematic uniformity of work is necessary to achieved the desire.
4. BASIC INSTRUMENT FOR TRAINING:
Audit program is infect a training instruments for the audit staff and also very useful for the new auditors. It provides training and guidance to him. So it is rightly called the basic instrument for training for the staff at the time of need.
5. SOLID LEGAL EVIDENCE:
Audit program and audit working papers are solid legal evidence of work done by every assistant of the audit team. It can be presented in the court of law if any action is taken against the auditor for negligence. These programmes and papers proves that the auditor has used his skills and due care in the audit of the firm so his liability can be reduced.
6. FIXATION OF RESPONSIBILITY:
Audit programmes fixed the responsibilities of the staff. If any error or fraud remains undetected, the responsibility of negligence will fall on that particular assistant who has performed that job and no one can blame on each other.
7. SEVERAL AUDIT MAY BE CONTROLLED:
The auditor controls the audit of various companies at the same time. In the absence of audit program he cannot supervise them effectively.
8. EASY TRANSFER:
The principle auditor can transfer to the any other person easily. If one assistant is unable to continue the work given to him it can be given to another person. Audit program guides him that what is done and what is remaining.
9. FINAL REVIEW:
Before signing the report, final Review is made and for this purpose also auditing program is very useful and any deficiency or missing in steps can be identified and completed.
10. USEFUL FOR FUTURE:
The audit programme is very useful in the future. Or completion of an audit, it serves the purpose of audit record that may be useful for future reference. In case of auditor is appointed for the same concern in any future time the auditor can use the same audit programme with some changes.
11. PRORESS OF AUDIT WORK:
Audit programme is helpful to note the progress of work. Audit programme is a timetable, which can show the work done on any particular date. The pace of work is going on with the passage of time. The adjustment can be made if there is more work and less time and vice versa. In this way work can be completed in time.
12. SUPERVISION OF AUDIT STAFF:
Audit programme is beneficial for auditor. He can supervise the activities of audit staff. He can use the audit programme as basis of supervision. Every part of audit work can be complete as per schedule. He can control the activities of audit staff through observation and direction when the audit work can be complete in time:
13. AUDIT STAFF NEEDED:
Audit programme is helpful to determine the number of persons needed to do the work. The staff requirement is essential for every auditor. The shortage of staff means slow progress. The exact number of senior and junior audit clerk can be determined. In this way an auditor is able to handle the audit work properly.
14. SAME WORK:
The benefit of audit programme is that new instructions are not issued due to change in staff. The nature of work remains the same. The audit clerks can know their job just by reading the written programme: The time is saved due to written instructions.
The benefit of audit programme is that work is complete with in stated time period, the saving of time means saving of labour. The saving of time means saving can control the cost of audit due to fixed time. He can arrange audit work of other business concerns.
16. REPONSIBIL1TY FOR POOR WORK:
The benefit of audit programme is that auditor can fix responsibility for negligence. Audit programme is a timetable of whole audit work to be done by auditors. Every staff member is given some sort of duty to do the audit work. The staff is responsible for completing of work. The performance is noted and responsibility if fixed poor work.
17. GUIDE TO AUDIT ASSISTANTS:
The merit of audit programme is that it serves as a guide to audit assistants. The junior audit staff can start and complete the audit work with the help of audit programme. There is no need to repeat the instructions every time. More ever it serves as a guide for future. The new audit programme can be developed on the basis of old work.
18. DEALING WITH NEW CLIENTS:
The merit of audit programme is that it helps to deal with client. The spare time of audit staff can be used for doing with new clients. The whole year time can be divided. The auditor can audit the accounts if various concerns under audit programme.
19. PROOF FOR AUDIT WORK DONE:
The merit of audit programme is that auditor can use it as proof for work done. In court of law the auditor can avoid liability for negligence. Audit programme is a permanent record of an audit process. The audit programme shows the work performed date-wise. In this way he cannot be held responsible for carelessness.
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