Internal Audit must plan an engagement on the city’s payments environment with clear objectives and a defined period. What lifecycle step should they complete first in Audit Management?
Select an answer to reveal the explanation.
Short Explanation
You don’t start digging trenches before the survey flags are in the ground. Plan the engagement—objectives, scope, and period—then do fieldwork. Closing first or handing planning to control owners skips the audit lifecycle.
Full Explanation
The Audit Management lifecycle begins with planning an engagement: defining objectives, scope, entities, and the period under review before fieldwork and reporting. Closing early, substituting ITSM incident cleanup, or collapsing auditor and control-owner roles violates that planning-first sequence and independence expectations.