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
Premium Auditing Audit Financial audit
Mr. Lancaster‚ The firm of Anderson‚ Olds‚ and Watershed is pleased to receive your notification to proceed with the audit and look forward to working with you. From the Audit 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
Premium Auditing Financial statements Audit
of auditing the financial records of Apollo Shoes‚ Inc. it has been confirmed that there has been sufficient evidence obtained to support the audit opinion. There is a concern pertaining to the results of last year’s audit‚ because the audit was conducted last year by Smith and Smith CPA’s and VP of finance Mr. Unum has requested that we do not contact Smith and Smith. After careful review it has been determined that the issuance of an unqualified audit report would be appropriate. There were errors
Free Auditor's report Audit Auditing
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
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
Premium Auditing Financial audit Audit
SUMMARY OF THE INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF NIGERIAN ENAMELWARE PLC. NAME OF THE COMPANY: Nigerian Enamelware Plc. NAME OF THE AUDITORS: Akintola Williams Deloitte‚ Charted Accountant‚ Lagos Nigeria. SOURCE OF INFORMATION: Annual Report & Accounts 2012. SCOPE: The financial statement audited by the auditors include; the balance sheet‚ profit and loss account‚ statement of cash flow‚ value added statement‚ financial summary‚ significant accounting policies and other
Premium Audit Financial statements Income statement
Design tests of controls‚ substantive tests of transactions‚ and analytical procedures for the following Apollo Shoes cycles: o Inventory and warehousing cycle o Cash cycle 1. Abstract‚ Inventory and warehousing cycle (tests of controls) YOLANDA 2. Intro‚ Inventory and warehousing (substantive tests of transaction) AMY 3. Conclusion‚ Inventory and warehousing cycle (analytical procedures) JUSTINIA 4. Cash cycle (Test of controls) ANNABELLE 5. Cash cycle (substantive tests of transactions
Premium Accounts receivable English-language films Economics
The company’s total losses/expenses as management has estimated are $11 million. The total amount that the auditor might suggest would be about $18.6 million. This means that the materiality threshold is broken for materiality of misstatement of net income‚ even though as shown below‚ each entry itself does not break that threshold by itself. The deferred costs can be divided over the next 2 years. So this year’s entry would be as follows and there should be a disclosure note about the remaining
Premium Revenue Income statement Generally Accepted Accounting Principles
Beginning the Audit ACC 546 June 11‚ 2012 Anderson‚ Olds and Watershed Phoenix‚ Arizona 85003 Mr. Larry Lancaster Apollo Shoes Phoenix‚ Arizona 85003 Dear Mr. Lancaster‚ The purpose of this letter is to make sure we have an understanding as to what the audit of Apollo Shoes financial statements will consist of for the year ending December 31‚ 2011. The objective of this audit of the company’s financial statements is to confirm that all aspects of the company are in compliance
Premium Auditing Audit Financial audit
my recent promotion; I look forward to working with 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
Premium Management Sociology English-language films