Audit Risk Assessment for Target Advanced Auditing 2012 Instructor: Professor Julia Bristor Introduction Target Corporation is one of the leaders of its industry, and has a strong financial position. Even though there are many risk factors surrounding the retailer industry, those factors are not related to Target alone. Those risk factors are common in the retailer industry, and as a result they don’t affect our recommendation of accepting Target as long as we decided to accept providing an independent audit to this particular industry. Target holds a great mount share of discount and variety when it comes to the industry of USA and Canada. This giant Corporation has 1763 stores all over the continent, which are representative of the story of retail stores. Its history started in 1902 in Minneapolis, Minnesota and here is where the headquartered is also currently located. It was known as Dayton Dry Goods Company until it opened its first Target store in 1962. It is the second largest discount retailer in the United States, just falling behind Walmart. The company is currently ranked at 33 in the Fortune 500 as of 2010. It is also worth mentioning that Target announced its expansion plan of opening 100 to 150 stores in Canada by 2013. Supermarket stores and online stores with higher value work, leaded Target to gain net profits of $ 2,929 million for the fiscal year of 2012. Target offers a wide assortment of general merchandise such as house ware, children toys, beauty products, crockery, and cleaning supplies as well as food assortment. Another special feature about Target’s products is its talented designers, who offer exclusive lines of products at notably discounted prices, which contribute to Target’s success. But it is not only the discounted prices and special designs, but also higher quality of products, which help Target to gain its share of the retailer industry in the USA...
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