To make sure that the case can be completed in a reasonable amount of time, we cut some corners with respect to audit sampling. The two previous directors are no longer associated with Apollo Shoes. To make sure that the case can be completed in a reasonable amount of time, we cut some corners with respect to audit sampling.
The treasurer supervises the cashiers and the cash management professionals. Do you play golf? The Company sells a significant amount of its product to one retail distributor with sales operations located throughout North America, Europe and Asia Pacific.
Next year appears even better! I am not sure if industry averages are available, Apollo shoes audit that too would be helpful.
Wardlaw manager on the audit: Inventory storekeeping responsibility is also in this department, with some inventory managers. Our tax staffperson can do the state and federal returns, and I will have them reviewed by Maria Olds, our tax partner. The bank confirmation contains information about long-term liabilities.
Useful life and depreciation method assignments for financial statement calculations shall follow these general guidelines: There are no other significant capital requirements identified at this time.
Will you plan enough in-depth auditing to give us assurances about errors and frauds in the accounts? Organization and Personnel Apollo Shoes is a medium-sized corporation.
This made the transition to the computer system easy on the employees, thus reducing training and employee objections to the computer. Our focus is in exactly the opposite direction. Zero salvage values shall be used in all depreciation calculations.
When the information systems department became active, the director was promoted to vice president. To learn more about the book this website supports, Apollo shoes audit visit its Information Center. You can think of the project as a puzzle, in which you have to fill in all the pieces.
It is incorporated in this document by reference. Voided and spoiled checks shall be transmitted to the treasurer for inspection and later filed in numerical order with paid checks. By the way, why did your previous auditors resign?
The general ledger supervisor shall compare the copy 2 daily batch total with the copy 4 individual accounts posting total sent from the accounts receivable department.
Net income per common share Net income per common share is computed based on the weighted average number of common and common equivalent shares outstanding for the period.
In order to perform the tax work, Sarbanes-Oxley requires that we get prior approval from the audit committee to perform both the tax work as well as the audit. Based on our knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3.
I have attached the minutes of an audit committee meeting that occurred last week. Discrepancies shall be investigated to help assure that the customer subsidiary accounts are posted for the same total amount posted to the control account.
The three members of the audit committee of the board and the corporate secretary also were present, but they did not enter into the conversation. Based on our knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; 4.
They may also prepare reconciliations without prior notice given to cash management personnel. Please review the minutes of the meeting and draft an appropriate engagement letter label it GA-1, for General and Administrative, page 1 addressed to Mr.
Shareholders of record on February 5, were entitled to vote at the meeting. For reasons lost to history, the department also has the mailroom and the personnel department. Yes, Karina, I will give you a list of schedules for various accounts.Apollo Shoes Case Apollo Shoes is an audit case designed to introduce you to the entire audit process, from planning the engagement to drafting the final report.
Tasks are listed in the attached word documentCase Study “Audit of Apollo Shoes, Inc.”Each Audit Team will perform the following task (not all inclusive) of Planning; Internal Control Evaluation; Substantive Testing of Cash, Accounts Receivable, Inventory, Prepaids, Fixed Assets, Liabilities and Payroll as well as render an audit opinion.
View Essay - Apollo Shoes Audit Report Week 3 from ACC at University of Phoenix. Apollo Shoes Audit Report Anderson, Olds and Watershed Certified Public Accountants Main Street Upper Saddle92%(24). We would like to show you a description here but the site won’t allow us. Answer to APOLLO SHOES, INC.
An Audit Case to Accompany AUDITING AND ASSURANCE SERVICES Prepared by Timothy J. Louwers James Madison University J. Free Essay: Notes on Apollo Shoes Audit Case Task #1 (Overview/Intro) Go to the “Weekly Materials” folder and locate the “Apollo Shoes Files” folder, between.Download