For this task, you will 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:1. 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 operates2. Identify the company’s top three customers and/or suppliers.3. Identify the company’s sources of financing (e.g., bonds, stocks, loans, etc.).4. Identify the company’s related parties (if any), including people and other companies.5. Identify the current stage in the company’s life cycle.6. Identify three risks associated with this business and/or industry.7. Identify two key economic factors that affect the company and how it stands with respect to these factors.8. Describe one unique accounting consideration for companies in this industry.9. Describe one of each of the following matters that are relevant to your chosen company:• a legal matter• a regulatory matter• social matter10. 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:1. Prepare a vertical analysis of the financial statements for 2011 through 2013.2. 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.3. Determine how the stock price of your chosen company has moved since the issuance of the last annual report and 10-k.4. 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:1. Determine the impact of the prior year’s audit opinion for the current year’s audit plan.2. Recommend whether the control risk of your chosen company should be assessed at the maximum level or below.a. Justify your recommendation made in part D2.3. Discuss the control risk assessment identified in D2 and what impact it will have on the audit procedures to be performed. Include in your discussion each of the following:• nature• timing• extent4. Identify areas of focus for the upcoming audit, including specific balance sheet and income statement accounts based upon the significance of those accounts and their related risks.5. Recommend which accounts identified in part D4 should be tested using analytical procedures and which accounts should be tested through substantive tests of detail.a. Justify your recommendation made in part D5.6. Discuss whether or not there is a going-concern consideration.7. Recommend whether the audit should be conducted at one main location or if the audit team should be dispersed to other locations.a. Justify your recommendation made in part D7.8. Describe the five main steps the audit team will perform.E. Include all in-text citations and references in APA format.Note: When using sources to support ideas and elements in an assessment, the submission MUST include APA formatted in-text citations with a corresponding reference list for any direct quotes or paraphrasing. It is not necessary to list sources that were consulted if they have not been quoted or paraphrased in the text of the assessment.