audit plan is the most important part of audit. the auditor should arrange the activity done in audit.
An audit is considered a risk assessment, therefore these terms are interchangeable. And audit plan can have various meanings, some consider this to be an annual audit plan which includes all the audits that will occur within a companies calendar year. Others consider this to be the plan for undertaking a specific audit. Its all in how you define the words, audit plan, audit schedule, audit check list.
audit procedure we mean that those petren in which we prepare the audit report.
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to\\To document what is to be done during the course of audit proper
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difference between audit program audit & note book
an audit program may contain several audit plans
How do you prepare a Work Plan?
Audit planning is a procedure which is used to see and prevent potential problems. This is done at the beginning of an audit process.
Final audit is conducted by the statutory auditors after the close of the financial period with a view to prepare the financial statements & audit report to be presented to the Board of Directors and to be filed with statutory authorities.