According to IIA guidance, which of the following is the key planning step internal auditors should perform to establish appropriate engagement objectives prior to starting an audit engagement?
A.
Review the organizational structure, management roles and responsibilities, and operating procedures.
B.
Evaluate management's risk assessment and the internal audit activity's risk assessment.
C.
Assess process flow and control documents used to meet regulatory requirements.
D.
Review meeting notes from discussions involving management of the area to be reviewed.
While understanding organizational structure and roles is useful, it doesn’t directly establish engagement objectives. This step is typically part of the background review that helps provide context but is secondary to the risk assessment.
While risk assessments are critical in identifying and prioritizing areas for audit, this step typically follows the initial understanding of the organizational structure and procedures.
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