While we tried to make the case as realistic as possible, limitations remain. Since you are unable to follow up directly with client personnel, you may need to rely on some evidence with which you may be uncomfortable. In an actual audit, you would be able to inquire, observe, and otherwise follow-up on any questions that you have until you feel comfortable relying on the evidence. To make sure that the case can be completed in a reasonable amount of time, we cut some corners with respect to audit sampling. Understand that audit sampling plays a large role in actual audit practice.
Overall, we strongly believe that this case will help you learn by actually completing tasks that would be completed by an auditor. For example, among other skills, an auditor must learn to identify and gather appropriate evidence, create audit documentation and produce an audit trail. Apollo Shoes is the first step in learning these skills.
apollo shoes audit case solution.zip
Finally, while it is difficult for us to believe that not everyone enjoys auditing as much as we do, we have tried to make the case both interesting and even enjoyable (at times). In fact, you can think of the project as a puzzle, in which you have to fill in all the pieces. Alternatively, you could look at the project as a murder mystery that needs a solution. In either case, have fun!
Apollo Shoes, Inc. is an audit case created to present you to the whole audit procedure, from preparing the engagement to preparing the last report. You are asked to assume the role of a veteran of two-to-three "hectic" seasons, "in-charging" for the very first time.
In this mini-case you will audit and evaluate documents such as bank confirmations and bank reconciliations in the audit of all of Apollo's cash accounts. For ease your audit teammate has already picked up the PBC schedules and scanned and labeled them into the binder for you.
Attached. Please let me know if you have any questions or need revisions.Apollo Cash Audit Mini-CaseApollo Cash Audit Mini-CaseIn this mini-case you will audit and evaluate documents such as bank confirmations and bank reconciliations inthe audit of all of Apollo's cash accounts. For ease your audit teammate has already picked up the PBCschedules and scanned and labeled them into the binder for you.Instructions:Read all memos from your manager and the client, then read the steps in the audit program for cash found onWork Paper D-0 and familiarize yourself with work papers D-1 through D-6. Complete all the steps on the auditprogram. Be sure to document your work using the designated tick marks. The tick mark legend is located at thebottom of each work paper. Remember that cross-references on the left indicate the number is from thatdocument and on the right if the number goes to that document.When you are finished with each workpaper, enter your initials in the box in the top right marked "Prepared By"When you are finished with the entire workbook rename this document CA_Firstname_Lastname and upload.Email memo from your manager, DarleneEmail from Apollo's Internal Audit DirectorThese emails are NOTworkpapers. Rather they areuseful communications forcompleting your case. They donot get a workpaperreference.Apollo Shoes, IncPreclosing Trial Balance (Audited)31-Dec-19Account ID1010010200103001040011000115001200012300141001420014300144001470015000151001520017000190001990020000231002320023300233502340023500236002370023800239002410024200247002700039003390043900540000410004200045000460005001057500600006100062000PBCA-1Account DescriptionDebitCash on Hand$1,987.28Regular ...
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(Tip: list users) Base - select a base that reflects users objectives (most common is net income before taxes) Normalize income and remove errors for the base amount","back_plain":"Users - materiality is completely focused on users. 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