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
Premium Board of directors Corporate governance
University of Phoenix December 10‚ 2012 Introduction Letter / Apollo Shoes From: Phoenix & Company PLLC (Certified Public Accountants) To : The Board of Director of Apollo Shores First I would like to thank the board of director of Apollo Shores for their recent inquiry about Phoenix & Company’s services. Since our firm is small‚ we offer a wide range of personalized services to clients at a reasonable cost. Phoenix & Company is a CPA firm with more the 25 years in the
Premium University of Phoenix Management Student
1-4 Audit Engagement Letters ............................................................................. 5-9 Recurring Audits ............................................................................................ 10-11 Acceptance of a Change in Engagement ........................................................ 12-19 Appendix 1: Example of an Audit Engagement Letter Appendix 2: ISA 210 Amended as a Result of ISA 700 International Standard on Auditing (ISA) 210‚ “Terms of Audit Engagements”
Premium Audit Auditing Financial statements
you on the new Apollo Shoes engagement. I have read all the information you sent me about Apollo Shoes to gain a better understanding of the company‚ and I feel like I have a firm grasp of the company structure and environment. After reviewing the company’s last three board of directors meetings‚ I determined what expertise would be necessary to carry out the audit on Apollo Shoes. If you can assign these staff to our audit team‚ the productivity and effectiveness of the audit will increase significantly
Premium Management Sociology English-language films
AUDIT ENGAGEMENT LETTER To the governing body Hood Furniture‚ Inc. Dated August 30‚ 2007 Dear Mr. Conrad Saws‚ As certified public accountant licensed to do audits in Oregon‚ we are happy that you have engaged our firm to audit your financial statements as of December‚ 31‚ 2007 and for the year then ended. This letter will substantiate our understanding of the arrangements regarding the financial audit we shall be making of the Hood Furniture Inc as of and for the year ended December 31‚ 2007
Premium Audit Certified Public Accountant Financial audit
EXAMPLE AUDIT ENGAGEMENT LETTER This example engagement letter is intended solely for general educational purposes. It is not intended for the purpose of providing specific legal‚ accounting‚ or other professional advice to any particular recipient or with respect to any particular jurisdiction. The author‚ publisher‚ and distributor of this document (1) make no representations‚ warranties‚ or guarantees as to its technical accuracy or compliance with any law ( federal‚ state‚ or local) or professional
Premium Balance sheet Financial statements Internal control
WCC Audit Checklist WCC Number(s) : COT-RT-011 Task Description : Sand removal using shovel Area/Location : Condensate terminal Auditors : Naim Date of Audit : 10/02/2012 |Section 1 – Specification of Work |Yes |No |N/A | |1.1 |Is the task description full and clear‚ including tag No.‚ equipment & tools |X | | | |Section 2 – Planning
Premium Occupational safety and health Project management Construction
CHAPTER 17 COMPLETING THE AUDIT ENGAGEMENT Answers to Review Questions 17-1 A contingent liability is defined as an existing condition‚ situation‚ or set of circumstances involving uncertainty as to possible loss to an entity that ultimately will be resolved when some future event occurs or fails to occur. FASB ASC Topic 450‚ “Contingencies‚” classifies uncertainties into three categories: 1. Probable: The future event is likely to occur. 2. Reasonably possible: The chance of the future
Premium Auditing Financial statements Balance sheet
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
Premium Audit Auditing Management
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
Premium Generally Accepted Accounting Principles Balance sheet