The best possible engagement objectives are those derived from a comprehensive risk assessment that incorporates inputs from both senior management and the company ' s risk function experts. This approach ensures that the internal audit objectives are aligned with the organization ' s strategic priorities and risk landscape. By combining insights from senior management with the technical expertise of risk function experts, the internal audit activity can develop well-rounded and relevant engagement objectives that address the most significant risks facing the organization.

The Institute of Internal Auditors (IIA) Standard 2010 – Planning: " The chief audit executive must establish risk-based plans to determine the priorities of the internal audit activity, consistent with the organization’s goals. "

IIA Practice Guide on " Internal Audit Planning "