Fixed Audit Program gives complete coverage of audit work that can be performed by the audit staff. Thus, an auditor prepares an audit program according to its scope of work. It guides the audit personal in work to audit be done.
Advantages of Fixed Audit Program –
Saves time and cost: Fixed audit programs are prepared once and the program is used in all the organizations. It saves time and cost because if the audit program is arranged once, a similar program is used in all the organizations. So, it saves time and cost.
Works are completed within: All the works are accomplished within the determined time in agreement with a fixed audit program because the auditor does not modify such a program on the request of support staff. All the works are completed within the stipulated time because the auditor does not change such program on the request of assistant staff.
Helps to make responsible: In a fixed audit program, the work of support is obviously defined and fixes the accountability of support staff. The audit program fixes the responsibility of assistant staff. So, they know their responsibility and complete their work in time which helps to prepare and present a report on time.
Future Work: This Program works as a road map for the future years and the audit staff can refer to this and appreciate the future course of action. It enhances the competence of the audit assistants as they are very obvious about their duties. On completion of an audit, it serves the purpose of audit record which may be useful for future reference.
Work Allocation: This program helps an auditor in the allocation of work among its team members according to their skills and competency. It reduces the scope for misunderstanding among team members regarding the performance of audit work.