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The Audit Report and Internal Control Evaluation - Essay Example
Finance & Accounting
Pages 3 (753 words)
Evaluation of Audit Evidence and Formulation of Audit Report – Apollo Shoes Incorporation [Instructor Name] Evaluation of Audit Evidence and Formulation of Audit Report – Apollo Shoes Incorporation There are a number of issues which have been identified during the process of auditing the financial statements of Apollo Shoes Incorporation…
It is the responsibility of the management of Apollo Shoes Incorporation to prepare these financial statements. We are responsible to conduct the audit of financial statements of the company and to express an opinion on the basis of audit findings. In addition to the audit we have also audited management’s assessment, included in the accompanying Management’s Report on Internal Control Over Financial Reporting, that APOLLO SHOES, INC. maintained effective internal control over financial reporting as of December 31, 2007, based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO criteria). APOLLO SHOES’ management is responsible for these financial statements, for maintaining effective internal control over financial reporting, and for its assessment of internal control over financial reporting. ...