Which function is NOT a part of a minimum audit program that an examiner should review?

The correct choice reflects the fact that reviewing employee performance evaluations is not typically included in a minimum audit program. An audit program fundamentally revolves around financial and operational accuracy, assessing the reliability of financial reporting, internal controls, and compliance with applicable regulations.

When auditors engage in spot-checking transactions, they are actively looking for discrepancies, ensuring that actual records align with reported figures. Balancing subsidiary ledgers to general controls serves a crucial role in validating that all financial transactions are accurately recorded and reconciled, maintaining the integrity of financial reporting. Verification of fee calculations helps ascertain that the entity is charging and receiving the correct fees, which is essential for revenue accuracy and compliance with fee structures.

In contrast, reviewing employee performance evaluations does not directly impact the financial or operational aspects that a minimum audit program seeks to assess. Instead, such evaluations are more related to human resource practices and organizational effectiveness rather than the core financial controls that auditors typically focus on. Therefore, it stands out as unrelated to the essential components of an audit program.