Audit Engagment Letter

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Running head: Beginning the Audit Report

Beginning the Audit Report
Gina Taylor Auditing ACC/546
Selina Ashworth
August 20, 2012

AUDIT ENGAGEMENT LETTER

August 20, 2012

Larry Lancaster
Apollo Shoes
10253 W. Higgins Rd. Ste 600
Rosemont, IL 60018

Dear Mr. Lancaster:

This letter is to confirm our understanding of the terms and objectives of our engagement and the nature and limitations of the services we will provide.

Services
We will audit the financial statements of Apollo Shoes as of December 31, 2011, and for the year then ending. We will also audit management’s assertion about the effectiveness of internal control over financial reporting at December 31, 2011. Upon completion of our audits, we will provide you with our
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Our responsibility as an auditor is limited to the period covered by our audit and does not extend to any later periods of which we are not engaged as auditors.

Our audit will include obtaining an understanding of your internal controls sufficient to plan the audit and to determine the nature, timing, and extent of audit procedures to be performed. An audit is not designed to provide assurance on internal controls or to identify reportable conditions, that is, significant deficiencies or material weaknesses in the design or operation of internal control. Accordingly, we have no responsibility to identify and communicate significant deficiencies or material weaknesses in your internal controls as part of this engagement, and our engagement cannot be relied upon to disclose the same. However, during the audit, if we become aware of such reportable conditions, we will communicate them to you. Prior to preparation and execution of this engagement letter, we discussed with you the fact that we provide clients with services specifically focused on identifying and addressing weaknesses in internal controls, and on searching for the existence of fraud within your company. We further explained the additional costs associated with such different levels of service. After consideration of such services, you have informed us that you wish to retain us to perform only the audit services described in this

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