Which of the following is the best approach for the internal audit function to communicate...

Prepare a formal observation worksheet for all observations identified and send to management to review and provide feedback at the end of fieldwork.

Verbally communicate the high risk observations to management when identified and prepare a documented worksheet that includes the root cause, effect, and recommendations.

Prepare a formal observation worksheet for the high risk observations and a separate worksheet for the medium risk observations in an email to management.

Verbally communicate all observations to management at the end of fieldwork and provide a formal worksheet for review and feedback.