) You are the external auditor of Oman Plastic Industries, Muscat, which is a leading supplyier of plastic products across the Sultanate of Oman. You are provided with its financial statement for conducting audit.

a) Do you think that the audit risk assessment is important? Justify your answer

b) How can you assess the risks associated with the audit of its financial statements.

c) How do you arrive an opinion on the financial statement of the company?