Should previous work programs be used? Why or why not?

The goal of an audit program is to create a framework that is detailed enough for any outside auditor to understand what official examinations have been completed, what conclusions have been reached and what the reasoning is behind each conclusion. The framework is to simplify the objective of the audit, its scope and timeline. The tailored audit program would be most beneficial for detecting billing schemes. Billing schemes are very common and very costly. The three most prevalent types of billing schemes are shell company schemes, non-accomplice vendor schemes, and personal purchases schemes. Tailored audit program is tailored to reference specific areas such as business procedures, legal documents, and assets. By targeting these specific requirements through tailored audit programs, the company can easily identify potential compliance lapses and develop internal controls to offset these vulnerabilities. In turn, can point out the weaknesses in internal controls and alert the auditor to potential opportunities for future fraud schemes.

This weeks question(s):

Should previous work programs be used? Why or why not?

When should a work program be built from scratch?

Please post at least 200 words with references.