What is the purpose of a risk-assessment matrix in the planning phase?

The purpose of a risk-assessment matrix in the planning phase is fundamentally to assess identified issues and determine the scope of the audit. This tool helps auditors systematically evaluate the risks associated with various components of the audit, which contributes to understanding where the highest risks lie. By categorizing and mapping these risks, auditors can focus their efforts and resources on areas that present the most significant potential for problems, ensuring that the audit is both efficient and effective.

A risk-assessment matrix typically involves assessing factors such as the likelihood of risk occurrence and the potential impact of those risks on the organization. This framework aids in making informed decisions regarding the depth and breadth of the audit scope, allowing auditors to justify their priorities based on risk levels. As a result, it plays a critical role in enhancing the overall quality and focus of the audit process.

The other choices do not directly align with the primary function of a risk-assessment matrix during the planning phase, as they pertain to different aspects of audit management rather than assessing risk and determining audit scope.