Which of the following should be performed during a preliminary survey of the engagement area?

During a preliminary survey of the engagement area, reviewing previous audit reports is a vital step. This process helps internal auditors gain insights into past findings, recommendations, and any follow-up actions taken in response to those findings. By analyzing previous audit reports, auditors can identify recurring issues, assess the effectiveness of prior controls, and develop a deeper understanding of the area under review. This information is crucial for planning future audit activities and determining the focus of the current engagement.

The other options, while relevant to the overall audit process, are not primarily emphasized during the initial survey. Developing audit criteria, for instance, typically occurs after understanding the context and scope of the audit rather than during the preliminary survey. Identifying key stakeholders is important, but it usually comes into play as part of the audit planning phase rather than during the initial review of existing information. Creating a risk matrix is a more analytical step used later in the process to assess risks based on the information gathered, rather than during the preliminary survey stage.