Methodology for Designing the Audit Program: Using HP as the company can you please help in answering these questions.

1. Review the company's purchasing policies, procedures, and relevant documentation.
2. Conduct a risk assessment to identify potential material misstatements and control weaknesses.
3. Tailor the audit program to address identified risks and relevant assertions.
4. Develop control and substantive tests to obtain sufficient, appropriate audit evidence.
5. Perform testing and document results, deviations, and findings.
6. Evaluate the overall audit findings and assess the impact on the financial statements.
7. Prepare an audit report summarizing the results and any recommendations for improvement.