Target

Target Corp

Introduction

Target is an American retailing company that was founded in the year 1902. Target’s headquarters resides in Minneapolis. Target is ranked as the second largest store in the United States. This company was ranked number 36 on the Fortune 500 as at 2013. In addition to this, Target offers a wide range of products and has many branches worldwide. The first Target store was opened in 1962. Target has grown at a high rate has since, and eventually became the largest division of Dayton Huston Corp. Target Corp has now expanded its operations into Canada and has over 100 subsidiaries in Canada

In the financial report of Target Corp, an audit report should cover all the important areas. The audit that is conducted in this company is very crucial to different parties. In this case, the audit report will be used by different parties such as the investors as they need to make decisions on whether to invest in the company or not. The report must be detailed showing all the various assertions used by the auditor. This will also include all the test controls that have been in place in the company. The auditor will have to include all the key aspects of growth of the industry.

Financial Evaluation of Target Corp

As an auditor, I will have to analyze the latest financial statements from Target Corp. The analysis will aid in creating a long term development plan for all the members. In this section, these calculations will help me develop the audit plan. I will have to consider all the key elements of the financial statements that will create a good background for me to help detect any errors or fraud. To be able to gather these ideas, I will have to request the company to give me the required financial statements as well as the original sources used in coming up with the financial statement (Howard, 2009). This will help me to come up with a risk assessment underlying Target Corp from the way the data is displayed in the financial statements....