Sales internal control questionnaire for apollo shoes audit

Apollo shoes introduction letter apollo shoes, inc audit report the audit firm of anderson, olds, and watershed, cpa (aow) has been engaged by apollo shoes, inc to audit the financial statements for the fiscal year ending december 31, 2007, and file the form 10-k with the sec within 60 days of this date. 22 the auditors of smith electronics wish to limit the audit risk of material misstatement in the test of accounts receivable to 5 percent they believe that inherent risk is 100%, and there is a 40% risk that material misstatement could have bypassed the client's system of internal control. The sales and collections cycle in a business refers to the set of processes that begin when a customer purchases goods or services and ends when your business receives payment in full as part of. Auditing letter for apollo shoes, inc essay auditing introduction letter to apollo shoes, inc name acc/546 date professor june 3, 2013 apollo shoes inc 100 shoe plaza shoetown, me 00001 to the board of directors of apollo shoes, inc: thank you for choosing anderson, olds, and watershed (aow) to audit your company. • complete the internal control audit section of the case using the apollo shoes case materials, available under the assessment section of week three on your student web site • review the planning section, with emphasis on the apollo accounting and control procedures manual and the apollo shoes minutes, before completing the internal.

Apollo shoes case assignment: apollo shoes case assignment please complete a bridge working paper with 3 strengths and 1 weakness and complete the 17 step internal control questionnaire for this assignment. internal audit 1 internal audit 'internal audit' is an appraisal activity established by management for the review of accounting and internal control systems as a service to the entity it reviews, monitors and make recommendations for the improvement of systems. And then we need to perform control test based on the assertions we made § internal control questionnaire assertions and questions yes, no, n/a comments occurrence assertion: 1 is the credit department independent of the sales department. I've attached a sales internal control questionnaire from another engagement that i think you can use for apollo you may want to talk to karina ramirez to get answers to the questions 1.

Search results for 'apollo shoe case audit report and internal control evaluation' audit report and internal control running head: the audit report and internal control the audit report and internal control university of phoenix acc/546 the. Audit programs, audit resources, internal audit - auditnet is the global resource for auditors auditnet has templates for audit work programs, icq's, workpapers, checklists, monographs for setting up an audit function, sample audit working papers, workpapers and a library of solutions for auditors including training without travel webinars. Icc-1 apollo shoes, inc internal control questionnaire sales transaction processing december 31, 2007 objectives and questions yes, no, n/a comments environment: 1 is the credit department independent of the sales department.

The risk unit is responsible for evaluating loss exposures, assessing liability, handling claims, promoting internal controls and developing effective safety and health programs the corporate and student insurance plans are managed by this unit. Question this question was answered on jul 25, 2010 view the answer apollo shoes case assignment using the apollo shoes case materials, available under the assessment section of week three of your page, complete the inventory audit section. As such, anderson, olds, and watershed (aow) will focus on designing tests of controls, access the control risk, substantive tests of transactions, analytical procedures, and test the details of balances in the inventory cycle, warehouse cycle, and cash cycle at apollo shoes, inc (arens, elder, & beasley, 2012.

Uop acc 546 week 2 individual assignment beginning the audit report apollo shoes is satisfied with the services your firm offers and wants to continue with the audit. Strong internal controls are an important component in helping retail store businesses reduce possible fraud usually caused by employee and customer theft we use cookies to improve your experience and optimize user-friendliness. Although the nature, extent, and timing of substantive tests is a matter of professional judgment, effective client internal control is a positive influence accordingly, the auditor may decide to decrease the amount of substantive testing, omit certain procedures, and/or schedule interim testing. 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. Review the planning section, with emphasis on the apollo accounting and control procedures manual and the apollo shoe minutes complete the internal control audit section of the case.

Sales internal control questionnaire for apollo shoes audit

Karina karina ramirez director, internal audit apollo shoes, inc this apollo message (including any attachments) contains confidential information intended for a specific individual and purpose, and is protected by law. Internal audit function at the organizations they oversee directors of organizations that have internal audit functions are expected to satisfy themselves that the internal audit function is effective. Apollo shoes case - internal control audit project student name(s) acc/490 date instructor prices and scrap sales are returned sales credits and other credits supported by documentation as to receipt.

  • The subsequent internal controls for the acquisition and payment cycle were selected from a standard internal control questionnaire 1 checks are q : hobbs co has the following defined-benefit hobbs co has the following defined-benefit pension plan balances on january 1 2012projected benefit obligation 4600000fair value of plan assets.
  • Audit program for safe act audit audit scope: this audit will focus on compliance with the secure and fair enforcement for mortgage licensing (safe) act which became effective in 2011.
  • From an internal controls perspective, you need to keep this in accounting you don't want someone influencing the calculations in sales and you really want to prevent any potential wrongdoing like you, we have multiple tier payouts for brokers and reps.

Evaluate the evidence provided by apollo shoes decide how to structure the audit report for the provided evidence compose an audit report reflecting the appropriate length, sections, and content for the provided information. Apollo shoes is an audit case designed to introduce you to the entire audit process, from planning the engagement to drafting the final report you are asked to assume the role of a veteran of two-to-three busy seasons, in. Fixed assets apollo shoes recently moved into their new facility and acquired new equipment to facilitate their internal production the new building was damaged by a hurricane in april, and apollo shoes had to repair and repaint it.

sales internal control questionnaire for apollo shoes audit The audit report and internal control evaluation this paper should adhere to apa formatting style please note there are two parts to this assignment, a 700 - 1050 word paper discussing the first three bullets and an audit report. sales internal control questionnaire for apollo shoes audit The audit report and internal control evaluation this paper should adhere to apa formatting style please note there are two parts to this assignment, a 700 - 1050 word paper discussing the first three bullets and an audit report.
Sales internal control questionnaire for apollo shoes audit
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