Beginning the Audit Report - Essay Example

Our approach to this audit will be based on the appropriate selection of audit staff. The choice of audit staff for this appointment shall exhibit necessary qualifications, skills, relevant general experience, relevant specific experience, exposure to donor funded projects, and prior working relations as a successful team We as Kantha Audit firm are grateful having been appointed as Apollo Shoes Auditors. We provide a comprehensive and modern audit service for both statutory and other purposes.

The basis of our audit approach is a close understanding of the operations of the Apollo Shoes, its systems and controls, and the environment in which it operates. It is important to make clarification that the management of Apollo Shoes is solely responsible for the preparation of the financial statements. We as the auditors are only responsibility is to express an opinion of the financial statements after our audit of them. The audit approach that we will adopt, takes into consideration the overall environment of Apollo Shoes.

Audit procedures for this audit mission will be of the highest quality, based on the GAAP and IAS-and International Auditing Standards. This will assist us to attain reasonable assurance and evidence to base our audit opinion (Gray & Manson 2007). We will require full access to all financial and accounting systems and records in order to carry out our audit in an effective and efficient manner. In addition, having been appointed as the new auditor should we require any information regarding to prior financial period and internal controls we will be obliged to contact the prior auditors if any (Kimbell 2002).

The audit work is expected to kick-off on 1st March 2012 and run for eight working days, but we are ready to start even at an earlier date of your convenience, with the culmination of presentation of the final audit report on 23rd March 2012. Our fee for