What can the EWRA review help auditors to reconsider?

The EWRA (Entity-wide Risk Assessment) review is a critical component for auditors as it provides a comprehensive understanding of the risk landscape across different auditable entities. By focusing on the risk ranking of these entities, auditors can identify which areas may pose a greater threat to the organization and therefore require more scrutiny.

This assessment allows auditors to reconsider and adjust their audit plans, prioritizing high-risk areas to ensure that resources are allocated effectively and that potential issues are addressed proactively. The prioritization of audits based on risk rankings is essential for enhancing the overall efficacy of the audit process and ensuring that critical risks are examined thoroughly.

The other options do not align with the primary focus of the EWRA review. For example, while training schedules, employee compensation structures, and approval processes for audit findings are important aspects of an organization's operations, they do not directly relate to the risk assessment framework that guides auditors in evaluating and prioritizing their audit activities based on identified risks.