According to IIA guidance, which of the following steps should precede the development of audit engagement objectives?

The correct answer is C. Risk assessment. According to IIA guidance, risk assessment is a critical step that precedes the development of audit engagement objectives. The risk assessment process helps internal auditors identify the key areas of risk within the organization, which then informs the setting of appropriate…

Planning the Internal Audit Engagement

Question

Options

AIdentification of controls.
BScope establishment.
CRisk assessment.
DReview of resources.

How the community answered

(22 responses)

C
95% (21)
D
5% (1)

Explanation

According to IIA guidance, risk assessment is a critical step that precedes the development of audit engagement objectives. The risk assessment process helps internal auditors identify the key areas of risk within the organization, which then informs the setting of appropriate objectives for the audit engagement.

Topics

#engagement planning#risk assessment#audit objectives#engagement lifecycle

Community Discussion

No community discussion yet for this question.

Full IIA-CIA-PART2 Practice