In an intial meeting with management, I use it as an opportunity to inform them of the proposed scope and the audit process. I inform them of the auditors working on the project and expected timelines. I tell them that we will keep in communication with them throughout the audit and bring up exceptions as they arise. I go over our reporting process and that they will have a chance to respond.
As far as questions, I use it as a chance to learn more about the area if it is something I don't have much experience in. Who is responsible for what in that department or branch? What vendors and systems do we use in that business unit? How are you planning to implement the new regulatory changes (as applicable)? I would ask if there have been any changes since the last audit- in process changes, new programs, employee turnover, increased volume, etc. I ask management how they feel about the propsed scope and if they have any suggestions. Does management has any areas of concern they would like to see tested?
Sometimes the opening meeting is very brief, more as a formality. Other times, it leads to thourough discussion and can be very valuable.