Distinguish between Audit Plan and Audit Programme.

Audit Plan Audit Programme Audit Plan lays down the audit strategies to be followed for conducting an audit such as identifying the areas where special audit consideration and skills may be necessary, obtain the knowledge of business etc. Audit programme is an outline of how audit is to be done, who is to do what work and within what time. Audit Plan should be made to cover the following among other things: Acquiring knowledge of accounting systems, policies and internal control procedures. Establishing the expected degree of reliance to be paced on the internal control. Determining the nature, timing and extent of the audit procedures to be performed. Co-ordinating the work to be done. Audit Programme lays down the following audit procedure to be followed: Evaluation process Ascertaining accuracy Verification of Document Scrutiny of supporting Documents Checking of overall disclosure and presentation of all items in the audit completion Preparation and submission of be performed audit report.