At the Beginning of Fieldwork in an Audit of Investments

Multiple Choice

At the beginning of fieldwork in an audit of investments, an internal auditor noted that the interest rate had declined significantly since the engagement work program was created. The auditor should:

A) Proceed with the existing program since this was the original scope of work that was approved.
B) Modify the audit program and proceed with the engagement.
C) Consult with management to verify the interest rate change and proceed with the engagement.
D) Determine the effect of the interest rate change and whether the program should be modified.