During the planning phase, a chief audit executive (CAE) is evaluating four audit engagements based on the following factors: the engagements ability to reduce risk to the organization, the engagements ability to save the organization money, and the extent of change in the area since the last engagement. The CAE has scored the engagements for each factor from low to high, assigned points, and calculated an overall ranking. The results are shown below with the points in parentheses:\ Audit\ Risk Reduction\ Cost Savings\ Changes\ 1\ High (3)\ Medium (2)\ Low (1)\ 2\ High (3)\ Low (1)\ High (3)\ 3\ Low (1)\ High (3)\ Medium (2)\ 4\ Medium (2)\ Medium (2)\ High (3)