Analyze the annual report, the 10-K, other company SEC filings, and industry data for a selected publicly-held company. You will prepare a broad audit plan for one of the following companies:
• Home Depot Inc.
• Gap Inc.
• Darden Restaurants Inc.
The broad-based audit plan should identify control risks and areas of focus for the audit. You will provide recommendations for which accounts should be audited using analytical procedures and which accounts should be tested using substantive tests of detail. Additionally, you will address going-concern considerations, the prior year’s audit opinion, and audit locations.
Use the SEC Edgar and Reuters websites to find the information you need.
Complete an analysis and prepare a broad-based audit plan (suggested length of 10–15 pages, excluding the appendix) for your chosen company (i.e., Home Depot Inc., Gap Inc., or Darden Restaurants Inc.) by completing the requirements below in accordance with GAAS. Your analysis and audit plan should be based upon the information obtained in the 2013 annual report, the 10-K, and other 2013 SEC filings, along with industry data:
A. Complete the attached “Company Information Template” for your chosen company based on the 2013 10-K and the 2013 annual report by doing the following:
- Identify the company’s basic information, including each of the following:
• the company’s name
• the company’s date of formation
• the industry in which the company operates
• the company’s size in terms of annual sales
• the company’s size in terms of total assets
• the company’s size in terms of employees (all full- and part-time)
• the company’s size in terms of total market value
• the location of company headquarters, including the states and countries in which it operates
- Identify the company’s top three customers and/or suppliers.
- Identify the company’s sources of financing (e.g., bonds, stocks, loans, etc.).
- Identify the company’s related parties (if any), including people and other companies.
- Identify the current stage in the company’s life cycle.
- Identify three risks associated with this business and/or industry.
- Identify two key economic factors that affect the company and how it stands with respect to these factors.
- Describe one unique accounting consideration for companies in this industry.
- Describe one of each of the following matters that are relevant to your chosen company:
• a legal matter
• a regulatory matter
• social matter
- Recommend two additional questions you would ask a company representative in an interview setting.
a. Justify your question recommendations from part A10.
b. Identify the individuals within the company to whom you would ask each question identified in part A10.
B. Analyze the data compiled in Part A and, based upon your analysis, discuss the three primary audit concerns.
C. Perform preliminary analytical procedures by doing the following:
- Prepare a vertical analysis of the financial statements for 2011 through 2013.
- Evaluate whether your chosen company is growing or declining.
a. Identify any major increases or decreases in accounts.
i. Justify your identifications made in part C2a.
- Determine how the stock price of your chosen company has moved since the issuance of the last annual report and 10-k.
- Choose two financial strengths for your chosen company during the year and do the following:
a. Discuss each financial strength in comparison to prior periods.
b. Discuss each financial strength in comparison to the strength of the industry.
D. Prepare a broad-based audit plan for 2013 based upon your findings in parts A–C by doing the following:
societies in nations of starting point more than it reflects contrasts in religious convictions concerning the social jobs of people (Reitz, Phan, and Banerjee, 2015). Ongoing vagrants to Canada, at the end of the day, hold the gendered division of work found in their nations of origin to a degree that recognizes them from the remainder of the Canadian workforce. The exploration additionally shows, notwithstanding, that this distinction will in general blur after some time, with longer settled vagrants reflecting general work constrain interest rates to a more noteworthy degree (Reitz, Phan, and Banerjee, 2015). This proposes these gatherings are acclimatizing with respect to Canadian standards of work and sex. A comparative finding has been seen in instruction. Outsiders who come to Canada as youngsters or are second era have more long periods of tutoring and higher secondary school fruition rates when contrasted and third-in addition to age Canadians (Boyd, 2002). This is as opposed to the United States, where sectioned absorption makes an underclass portrayed by decreased dimensions of instructive achievement (Boyd, 2002). These outcomes propose that vagrants to Canada are absorbing to an extensive degree with regards to work and instruction, receiving the practices and qualities at the core of Canadian financial life. One perspective on the Canadian social mosaic, at that point, is that vagrants absorb into standard culture identified with shared social and monetary qualities while holding unmistakable religious convictions and social practices. This perspective on multiculturalism has been bolstered by examination into how religious or ethnic minorities are seen by different Canadians. One investigation of Quebec Francophones found that respondents did not see an Arab Muslim lady less positively when she was displayed to them in either Western garments or conventional Muslim garments, for example, the niqab or hijab (El-Geledi and Bourhis, 2012). This demonstrates Canadian culture adjusts to new ideas of multiculturalism in light of movement. While this procedure requires some serious energy and may involve resistance and dogmatism en route, it suggests that settler bunches will in general acclimatize and incorporate into Canadian culture. The qualification between social mosaic and mixture can be identified with sociological ideas of combination and digestion. Examination into the Canadian migrant experience recommends that cultural assimilation is more unpredictable than proposed by this twofold. Migrants to Canada incorporate into Canadian culture here and there and acclimatize in others. Sexual orientation Equality Sexual orientation correspondence and the status of ladies are characterizing issues of Canadian qualities and self-origination. This is a nation that as of now has a self-depicted women's activist Prime Minister and where there is impressive help for women's activist social approaches and representative demonstrations of woman's rights. Migrant gatherings in Canada frequently originate from nations that don't share these estimations of sexual orientation uniformity and may hold their own qualities in Canada. However, workers are not a solid gathering, and these frames of mind differ crosswise over culture, spot, and time. Sexual orientation equity and the status of ladies are noteworthy markers of open impression of distinction however such contrasts are not constantly reflected in the proof. There is an open observation that outsider gatherings have diverse perspectives about the status of ladies and the significance of sexual orientation fairness than those held by most of Canadians. In studies led in Western nations, larger parts of respondents have shown a conviction that Muslims hold distinctive perspectives from their own concerning regard for ladies (Reitz, Phan, and Banerjee, 2015). Sexual orientation is one way that migrant gatherings can be seen as a "representative danger" to a host network (Harell et al, 2012, p. 504). Foreigners who are ethnically or religiously not the same as the host network are regularly seen as threatening to the standards and estimations of that network. The Muslim routine with regards to veiling ladies, for instance, has been held up by some as in opposition to the women's activist estimations of nations like Canada. Since the September eleventh psychological militant assaults, upwards of 45 percent of Canadians have embraced the view that Islam energizes brutality and this impression of distinction has been "exasperated by the wearing of the Islamic shroud in open spaces, for example, the road, in trade and>GET ANSWER