considered evidence that the account is stated fairly. With the positive confirmations‚ we are trying to find information on account balances or specific invoices. We sent positive confirmations to Neutralizer‚ Mall-Wart‚ Run For Your Life Shoes‚ Paul Bunion Footwear‚ Sassy Shoes‚ and International Soccer Federation. We sent a negative confirmation to Tread. The ones that we sent a positive confirmation to‚ we were wondering about some discrepancies in the numbers and needed confirmation that payments were
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GA-3 Prepared K.E;M.B.(1/13/2012) Apollo Shoes‚ Inc. Relevant Matters Based on Minutes (December 31‚ 2011) Information Relevant to 2010 Audit 1. Remarks by Apollo Shoes Inc. CEO Larry Lancaster in regards to the 10% projected increase in sales for the 2011fiscal year. (“Well they better increase by that much or heads will roll.”) GA-3.1 2. Majority vote by members of the board to internalize
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Auditing Introduction Letter Leslie Brian ACC/546 August 6‚ 2012 Eddie Loussararian Auditing Introduction Letter Greetings! To start off‚ I would like to introduce myself; my name is Leslie Brian‚ and I am a lead auditor for Nortex‚ Inc. Our organization is a leading firm in the industry‚ with offices in more than 20 states. We appreciate your company’s interest in our services. I have taken the opportunity to outline the following: the services we offer and their benefits
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Apollo denied our request to speak with the predecessor auditors because of “litigation concerns.” I’ve looked at the 8-K filed by Apollo and the auditors referenced in the 10-K. I didn’t attach a copy because it didn’t say much‚ just something about “incongruent goals‚” blah‚ blah‚ blah. Against my advice‚ Arnold decided to accept the engagement anyway. Keep your eyes open! The good news is that the predecessor auditors‚ Smith and Smith‚ CPAs‚ have a good reputation‚ so you can use last
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Committee meeting minutes‚ we understand that Apollo Shoes requires help with the yearly audit because the former CPA firm withdrew unexpectedly (University of Phoenix‚ n.d.). Anderson‚ Olds‚ and Watershed will conduct the audit and “prepare the state franchise tax returns as well as the federal tax returns” (University of Phoenix‚ n.d.‚ p. 9). Because of Apollo’s previous work with Smith and Smith‚ Anderson‚ Olds‚ and Watershed is “required by auditing standards to communicate with” Smith and Smith
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INTRODUCTION General Introduction About The Organization Apollo Tyres straddles the Indian tyre industry much like the Greek Sun God. Apollo’s four horse-drawn chariot races across the vast expanse of the sky‚ symbolizing the creation of light‚ hence knowledge and truth. And like the Greek charioteer‚ Apollo Tyres has stood the test of time on the four pillars of vision‚ integrity‚ quality and sheer determination. The history of Apollo Tyres dates back to 1974 when it was incorporated as a company
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Apollo Shoes Audit Report 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
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Similar to what you did with the Revenue Cycle‚ I want you to prepare a bridge working paper for the audit of Apollo Shoes as of December 31‚ 2007‚ listing the major errors that could occur in the purchasing system and to describe the test of controls procedures for auditing related purchasing controls to determine whether reliable control exists. I don’t think that Apollo has enough purchase transactions that we need to rely on the controls (in other words‚ we’ll look at them all)‚ but we need
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Auditing Introduction Letter 22851 Center Street Castro Valley‚ CA. 94546 May 6‚ 2013. Mr. Charles Apollo Shoes 123 Market Street Phoenix‚ Arizona 44444 Dear Mr. Charles‚ AUDITING INTRODUCTION LETTER I am writing this letter to introduce myself‚ my company‚ and the auditing and assurance services we can offer to Apollo Shoes. I will also discuss the benefits of our services as well as the role we will provide and the requirements for meeting the standards for the services we offer. Our firm
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While evaluating Apollo Shoes‚ there are some areas of concern that are potential fraudschemes. The fraud can lead to the entire collapse/demise of the company if not corrected.These will also affect the share value and investor confidence. An overview of the process of investigation along with recommendations for the company.As with any company‚ revenue recognition is an important part of operations of a ApolloShoes. As stated in GAAP standards‚ revenue generated must be realistic and recognizable
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