Essay on Apollo Shoes Case

33718 Words Nov 25th, 2012 135 Pages
[pic]APOLLO SHOES, INC.

An Audit Case to Accompany

AUDITING AND ASSURANCE SERVICES

SUGGESTED SOLUTIONS

Prepared by

Professor Cal Christian
East Carolina University

Professor Tim Louwers
James Madison University
Introduction

We designed the Apollo Shoes audit case to introduce students to the entire audit process, from planning the engagement to drafting the final report. Students are asked to assume the role of a veteran of two-to-three “busy” seasons, “in-charging” for the first time. Communication between the students and client personnel and other firm members takes the form of e-mail messages from the engagement partner (Arnold Anderson), the engagement manager (Darlene Wardlaw), an intern (Bradley
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General Procedures:
|Task: |Apollo Page |
|Review Audit Committee meeting on October 18, 2007 and draft an appropriate engagement letter. |4 |
|Write a Brief Audit Staffing Memo. |4 |
|Develop Audit programs for the substantive audit procedures for the balance sheet and income statement |35 |
|areas listed. | |
|Review the Minutes of the Board of Directors Meetings and prepare a working paper of the matters |36 |
|relevant to the 2007 Audit. | |
|Create an Income Statement and Balance Sheet from the Trial Balance. |40 |
|Perform Preliminary Analytical Procedures on the 2007 Unaudited Financial Statements. |43 |
|Prepare a Memo explaining your findings from the analytical procedure review. |43 |
|Prepare a

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