Engagement plans must document which of the following?

The engagement plan is a critical document in the internal audit process, serving multiple purposes, including guiding the execution of the audit and providing clarity on expectations and scope. Documenting the timing of the audit is essential because it outlines the schedule for planning, fieldwork, and reporting stages. Timing helps ensure that the audit is conducted in a systematic manner, allowing for efficiency while accommodating the availability of resources and stakeholders involved.

Timing also plays a vital role in aligning the audit with the organization’s operational calendar or specific events that may affect the audit's focus. By explicitly documenting the timing, the audit team can coordinate effectively with other functions and ensure that the engagement meets key deadlines for both internal and external reporting or compliance requirements. This clarity also aids stakeholders in understanding when they can expect updates and final reports, thus facilitating better communication throughout the process.

The other elements mentioned, such as resource allocation or risk identification, are also important for a comprehensive engagement plan, but timing specifically addresses the logistical framework that governs the execution of the audit.