What is the purpose of an audit program?

The purpose of an audit program is to outline criteria and methodologies for audits. An effective audit program serves as a comprehensive plan that defines the scope, objectives, and procedures necessary to conduct each audit. It ensures consistency and thoroughness in the auditing process by detailing the specific areas to be audited, the techniques to be used, and the standards against which performance will be evaluated. This framework not only facilitates the systematic assessment of various operations and controls within an organization but also promotes adherence to applicable regulations and best practices. By having a well-defined audit program, auditors can better identify risks, evaluate the effectiveness of internal controls, and ultimately support the organization's overall governance and risk management efforts.