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Anderson, Olds and Watershed
Certified Public Accountants
Shoetown, ME 00001

The Audit Report and Internal Control Evaluation

To the Board of Directors
Shareholders of Apollo Shoes, INC.

An audit has been completed for Apollo Shoes as of December 31, 2005 and 2006, and the associated income statement, shareholders’ equity, cash flows and complete income. My firm has reviewed the organization’s assessment, comprised in the associated report of management on Commercial Reporting, in which Apollo Shoes sustained definite internal control as of December 31, 2006, founded on standards recognized in internal control. The management team of Apollo Shoes’ is accountable for the financial reports, for sustaining current internal controls, and appraisal of internal control regarding financial reporting. It is our duty to communicate an unbiased view on these financial reports, assessment by management, and the usefulness of the organization’s internal control sustaining the financial report. My team has organized our inspections in conjunction with the principles of the Public Company Accounting Oversight Board (PCAOB). We strategically planed and enforced the audit to acquire practical assurance. Regardless, the actual internal control consisting of fiscal reporting was sustained in all respects of materiality or whether financial reports are without material misstatement those standards that the PCAOB have put into place are required in order to plan and prepare for a proper audit. Our review of the financial reports will consist of proof promoting the totality of assets and disclosures in the financial reports, investigating all details in their entirety, evaluating the generally accepted accounting principles (GAAP), and estimating the general arrangement of financial reports. During the audit we obtained a comprehension of internal control over Apollo Shoes’ monetary reporting, and we appraised management’s valuation. We preformed all services...
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