ACC546 Week SIX- AUDIT PROGRAM DESIGN - Craig

            Developing the audit strategy and plan aids the auditor in determining the necessary resources to perform the assign task at hand.  He or she will then develop a plan in mind that will be at acceptable level when he or she reduces audit risks for the inventory and warehousing cash cycle.  The auditor should have a plan that should have the following things in it which include a procedure for risk management, along with description of nature and timing.  The audit plan and program significantly affects the types of further audit procedures will be conduct by the auditor in accordance with the US generally accepted accounting principles (GAAP) that the financial statements were stated fair.  The auditor should take into account the risk that they are taking in relation to a clients account balances, certain transactions that were made, and disclosures of the overall level of the client’s financial statements.