Place the five primary phases of a standard internal audit cycle in chronological order, from first to last.

### The order 1. **Define scope, objectives, roles, and responsibilities**: Planning establishes the audit’s purpose, boundaries, and ownership before work begins. 2. **Understand existing processes and procedures**: Auditors need to know how the organization currently works before judging its controls. 3. **Validate controls and set the audit test plan**: Testing checks whether controls operate as expected and follows a planned method. 4. **Analyze results and review them with the organization**: Evidence must be interpreted and discussed before conclusions are finalized. 5. **Complete the audit report**: The report documents findings after testing and review provide a basis for conclusions. ### The concept An audit cycle moves from planning to evidence gathering and analysis, then to reporting. Setting scope and objectives late would make it unclear what the tests are meant to establish. Reporting before analysis would leave conclusions unsupported. The course also describes ongoing audits as smaller reviews that help organizations keep pace with changing requirements. ### Terms - **Audit test plan**: The planned approach for examining and validating controls. - **Audit report**: The document that records the audit’s results and conclusions. ### Remember Set the boundaries first, gather and analyze evidence next, and report after the results have been reviewed.