Sample Audit Program: An audit program involves compiling a list( program) of procedures for the auditors to perform in order to obtain evidence and
reasonable assurance that internal controls are operating properly and thus producing accurate financial statements. To compile a sample audit
program, you have been provided with tests of control in revenue and inventory.
You must identify the relevant PCAOB audit standards and address their relevance to the Newham audit program. Include other elements as applicable to
Newham.
Report of Recommendations: Based on an auditor’ s experiences and knowledge of accounting, finance, and common errors or pitfalls, it is common for
an auditor to provide recommendations. The sample audit program addressed here is merely a small sample, not a comprehensive program. Thus,
recommendations for further risk analysis, sample methods, and other concerns should be offered. In your report of recommendations to the head of
the new audit team, include the following sections:
Explanation of findings in the risk analysis Sarbanes – Oxley concerns or requirements