Anderson, Olds and Watershed
Certified Public Accountants
123 Main Street
Upper Saddle River, NJ 00712
INDEPENDENT AUDITOR’S REPORT
To the Stockholders
Apollo Shoes, Inc.
We have audited the accompanying balance sheets of Apollo Shoes, Inc. as of December 31, 2008, and the related statements of income, comprehensive income, shareholders’ equity, and cash flows for the year ended, and related notes to the financial statements. We have also audited management’s assessment, included in the accompanying Management’s Report on Internal Control Over Financial Reporting, that Apollo Shoes, Inc. maintained effective internal control over financial reporting as of December 31, 2006, based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO criteria).
Managements Responsibilities for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements, in accordance with the generally accepted accounting principles in the United States of America. Management is also responsible for maintaining effective internal control over financial reporting relevant to the preparation and fair presentation of financial statements that are free form material misstatements.
Our responsibility is to express an opinion on these financial statements, an opinion on management’s assessment, and an opinion on the effectiveness of the company’s internal control over financial reporting based on our audits. We did not audit previous years’ financial statements of Apollo Shoes: prior years’ audits were completed by other auditors whose report has been given to us, and our opinion, insofar as it relates to the amounts included for Apollo Shoes, is based on the report of the other auditors. We conducted our audits in accordance with the standards of the Public Company Accounting
References: Elder, A. A., Beasley, M., & Elder, R. J. (2014). Auditing and assurance services (15th ed.). Upper Saddle River, NJ: Pearson. Louwers, T. J., & Reynolds, J. K. (2007). Apollo Shoes, Inc. New York, NY: McGraw.