Flexible Audit Program
An audit program that can be changed as per the need, time, nature of business and auditing standard is known as a flexible audit program. Under this program, the staffs have much discretion in improving it as the audit work progresses. The staff can also display its initiative. It is just taken as a helping part but assistants can use their knowledge, caliber, and intelligence. This program does not recommend the accurate audit process to be followed.
Flexible Audit Program gives only the outline of the scope and the procedures to be followed instead of any fixed audit instructions. Such a program should be reviewed on the recommendations and suggestions of assistants. It prefers to give an outline of the scope, nature, and limitations of the audit assignment. Such change can be made due to change in a number of works, nature of the business, changes in management and their feelings. Every group of audit steps should be proceeded by a statement of the relevant audit objectives. It does not decide the character of work to be performed by each person of the audit staff. It is just taken as a helping part but assistants can use their knowledge, caliber, and intelligence. Most of the things are resolute as the work proceeds and the consistency of procedures and internal control system becomes known to the auditor.
Thus, a flexible audit program allows the auditor to expand, acclimatize and transform the program according to the needs of the circumstances. Care should be taken to ensure that audit steps are not repeated under different heads. Such a program should be reviewed on the recommendations and suggestions of assistants. However, the risk is that some vital audit measures may not be followed.
