Audit Report and Internal Control Evaluation

In: Business and Management

Submitted By kikifever18
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To: The Board of Directors and Shareholders of Apollo Shoes Inc.
From: CBA Auditing Firm
Re: Audit Report and Internal Control Evaluation
Date: June 10, 2013
CBA Auditing Firm has audited the balance sheets of Apollo Shoes as of December 31, 2012. In addition, our auditing firms also reviewed statements of income such as shareholders equity, comprehensive income, and cash flows for the same period. Our company also assessed Apollo Shoes financial reporting internal controls based on the Committee of Sponsoring Organizations of the Treadway Commission (COSO criteria) and determined that they are adequate and effective for the period ending December 31, 2012. Apollo Shoes Inc. management holds sole responsibility for maintaining effective internal controls, validity of their financial statements. CBA Auditing responsibility is only to reflect an opinion on management’s assessment, the company’s internal controls, and the financial statements based on the results of our Audit.
Our audit was conducted in accordance with the standards set by the Public Company Accounting Oversight Board. These standards require for our organization to prepare and execute the inspection to attain reasonable assurance of whether Apollo Shoes Inc. financial statements are without material misstatements and determine if the internal controls are effective enough over financial reporting for all material aspects. Our audits provide a reasonable basis for our opinion; therefore the audit included the examination of; * Evidence supporting amounts * Implementation of internal controls * Disclosure in the financial statements * Accounting principles assessments * Significant estimates made by management * Evaluation of financial statement presentation
Apollo Shoes Inc. Internal control over financial reporting…...

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