Ahead are stairs leading both up and down. Head downstairs for now and light the brazier (12/32).
In the single-player game, there is a golden handle at the far end of the spike pit. Pull the handle to raise 2 wooden ledges above the spikes. These remain in place until the handle retracts, so you'll need to move quickly.
Run/roll back to the tile with Osiris's glyphs, raise the staff to extend a column that will enable you to reach the ledge above.
Then run and jump across the wooden ledges to the other side of the spike pit before the ledges collapse.
In the co-op game, at the bottom of the stairs near the brazier (12/32), instead of a handle there are 2 pressure pads that control the 2 wooden ledges above the spikes. This requires careful timing. One character must stand on the first pressure pad while the other jumps onto the first collapsing ledge.
The character below should then move onto the second pressure pad.
The first ledge stays up for a few seconds so the character above can jump onto the second ledge as it rises. Then he or she can jump onto the solid ledge ahead...
...and stand on the pressure pad there to raise a column below so the other character can climb up.
In the 4-player game, the setup is the same as for 2 players, but it's a little easier, since 2 characters can stand on the pressure pads while a third crosses the ledges. The one above then stands on the pad there to raise the column so the rest can climb up. I have not yet tried the 3-player version, but I'm guessing it's similar.
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