What is the purpose of establishing engagement objectives during the planning phase of an internal audit?

Comprehensive and Detailed Step-by-Step Explanation: Reference to IIA Standards: Standard 2210 - Engagement Objectives: Internal auditors must establish objectives for each engagement to align with the organization's goals and address identified risks. Reasoning:
Option A is correct because engagement objectives focus on ensuring audit procedures target and mitigate identified risks effectively.
Option B (common understanding) is important for team alignment but is secondary to risk-focused objectives.
Option C (considering work of other assurance providers) is part of planning but not the primary purpose of setting objectives. Importance of Objectives: Engagement objectives drive the audit’s focus, ensuring that procedures are purposeful and tailored to mitigate relevant risks.