Based on such examples, the CAE should thoroughly reassess the strategic audit plan in terms of 1) feasibility, 2) practicability and 3) usefulness of the scheduled audit missions.
1) Feasibility: Assessing if, for example, audits that include travel to foreign countries can still be executed as scheduled due to temporary travel bans imposed, inability to use transportation means (i.e. cancelled flights) or closed borders at the destination.
2) Practicability: This relates to the questions of certain audit topics that may require extensive process walkthroughs, on-site interviews and the review of physical documentation and whether these are still effectively and efficiently possible when the organization is in lock-down mode and potential interview partners are not at the office.
3) Usefulness: The CAE, in close alignment with Executive Management and the Audit Committee, should assess whether certain audits should be deferred from a risk perspective as they may no longer pose an imminent threat to corporate governance or cause a failure of controls.