DRAFT OF AUDIT PROGRAM

Company Name:

Reporting Period:
Reporting requirement:
Reporting Framework:
Client and Engagement Acceptance Risk Designation as Reasons for Risk Ratings:
o Low
o Moderate
o High
Engagement letter
Date: _________________

Engagement Letter signed by the client

Brief description of Client’s Business

Overall Analysis of Financial and Non-Financial Information

Determine the Overall Materiality

Amount Percentage Basis

Statement of financial Position 3% Total Asset
Statement of Financial Performance 3% Sales
Rationale

Detail Audit Plan

PLANNING FINAL
Audit Objectives Are you Comments Initials
satisfied that
the Objectives
 have been met?
Property, Plant and Equipment
1. To establish that property, plant and
equipment listing is complete.
2. To establish that property, plant and
equipment are beneficially owned.
3. To verify that all property, plant &
equipment are recorded at cost or
valuation and that the basis is
acceptable.
4. To confirm that impairment and
depreciation are adequately provided
for the property, plant, equipment.
5. To confirm that all necessary
disclosures concerning fixed assets
have been made and that the
information is appropriately
presented and described.
Inventories
1. To ensure that the company has good
title to inventories and it exists.
2. To ensure that inventories have been
valued correctly, consistently and in
accordance with applicable
legislation and accounting standards.
3. To ensure that full provision has
been made for all damaged, obsolete
or slow moving inventories.
4. To confirm that all necessary
disclosures concerning inventories
have been made and that the
information is appropriately
presented and described.
Cash and Bank Balances
1. To establish that all bank balances
and overdrafts have been included at
the correct amount.
2. To ensure that cash balances are
genuine and have been included at
the correct amount.
3. To confirm that all necessary
disclosures concerning bank and cash
balances have been made and that the
information is appropriately
presented and described.
Equity
1. To ensure that the statutory records
have been properly maintained and
are up-to-date.
2. To ensure that any changes in stated
 capital are supported by appropriate
resolutions and are properly reflected
in the financial statements.
3. To ensure that capital instruments
and the related interest or dividends
are properly presented in accordance
with the substance of the
arrangements.
4. To confirm that all necessary
disclosures concerning reserves and
other statutory information have been
made and that they are appropriately
presented and described.
Income Statement
1. To ensure that income is fairly stated
and correctly classified.
2. To ensure that expenditure is fairly
stated, authorized and correctly
classified.
3. To ensure that wages and salaries are
correctly accounted for.
4. To ensure that items requiring
specific disclosure are correctly
reported.
5. To ensure that any share based
payments are properly accounted for.
6. To confirm that all necessary
disclosures concerning the profit and
loss account have been made and that
the information is appropriately
presented and described.

Planning conclusion

I am satisfied that from the tests planned sufficient appropriate evidence can be gained to satisfy
the objectives.

Prepared by: ___________________________ Date: __________________

Reviewed by: ___________________________ Date: __________________

Final Conclusion
From the audit work carried out I confirm that:
a.) The work has been performed in accordance with the audit programme;
b.) The work performed and the results obtained have been adequately documented;
c.) All necessary information has been collected for the presentation and disclosure in the
financial statements;
 d.) Sufficient and appropriate evidence has been obtained to support the audit conclusion
reached; and
e.) In my opinion the income statement are fairly stated/ * not fairly stated as described
below.

Prepared by: ___________________________ Date: __________________

Reviewed by: ___________________________ Date: __________________