Research and develop an audit plan on Kroger Co 10k based upon the below parameters

Gain an understanding of the Company and provide background

Perform a risk assessment of the Company:

oIdentify what could go wrong

oIdentify what the significant (i.e. elevated) risk would be

For the identified significant risk, develop audit procedures which include:

oA controls based approach which touches on managements assertions

oSubstantive testing approach (after factoring in controls)

The above procedures need to address how an audit team would gain comfort around management's assertions for those significant risk

If you determine that only a substantive based approach will be taken (i.e. no control reliance), explain why and what additional work will be required