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A chief audit executive (CAE) joined an organization in the middle of the financial year.

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A chief audit executive (CAE) joined an organization in the middle of the financial year. A risk-based annual audit plan has been approved by the board and is already underway. However, after discussions with key stakeholders, the CAE realizes that some significant key risk areas have not been covered in the original audit plan. How should the CAE respond?

A.

Commit to delivering the original annual audit plan as it has already been approved by the board

B.

Revise the plan to incorporate the newly identified risks, and communicate significant interim changes to senior management and the board for review and approval

C.

Ensure that the newly identified risks are included in the next year's annual audit plan

D.

Assign internal auditors to immediately perform assurance engagements in the areas where the new risks have been identified, due to their significance

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