Preliminary Audit Plan Outline

Develop an outline for a preliminary audit plan for Shell Oil. Include audit objectives and internal controls in your outline.

Only the Assess Client Business Risk part is needed.

Book Example:

Assess client business risk Assess client business risk Evaluate management controls affecting business risk Assess risk of materia misstatements Moore, with input from Anthony and Franklin, used her understanding of the client and industry to evaluate business risk. Moore reviewed management and governance controls and their effect on business risk. The engagement team met to discuss the susceptibility of the financial statements to material misstatement based on their knowledge of the entity and understanding of Hillsburg's business risks