Apollo Shoes. Inc. operations in conformance with the financial twelvemonth 2006 audit program have a complete reappraisal by our audit squad. The intent of this reappraisal is to lend to the patterned advance of hazard direction and the control systems within the concern by placing and measuring exposures to hazard and the controls designed by direction to decrease those hazards ( Arens et al. . 2012 ) . Apollo Shoes. Inc. operates from a big office with operations and warehouse installation in the Shoetown. Maine country. The company’s merchandises are shipped to big and little retail mercantile establishments in assorted province countries. The company has more than 100 employees organized in different sections headed by the frailty presidents. In add-on. the company has recorded investing income from Apollo Shoes. Inc. ’s investing in Shock-Proof Socks. a company that has non been issued any dividends as of the day of the month of the statement.
There were assorted trying methods used: non-probabilistic. judgmental. and a probabilistic sample procedure to find the sample size. The direct sampling method was based on judgmental standards from points that are most likely to include misstatements. points that include selected population features. and big dollar sums ( Arens et al. . 2012 ) . The systematic samples choice were the probabilistic sample. The audit squad has calculated the intervals and carefully selected the times to try based on size. This was used to assist reason the figure of paperss needed to reexamine in the audit. Based on the audits. our uttered sentiment is that the stuff from the financial twelvemonth of 2006. its operations and its hard currency flows for the twelvemonth is in conformity with the by and large accepted accounting rules.
Arens. A. A. . Elder. R. J. . & A ; Beasley. M. S. ( 2012 ) . Auditing and confidence services: An
integrated attack ( 14th ed. ) . New York. New york: Pearson/Prentice Hall.
Louwers. T. J. . & A ; Reynolds. J. K. ( 2002 ) . Apollo places casebook. New York: McGraw-Hill