Acc 549 Internal Control Paper

1796 Words8 Pages
AUDIT PROGRAM DESIGN ACC/546 Anderson, Olds, Watershed, CPAs 111 Rock St Denver, CO 80465 Larry Lancaster Apollo Shoes, Inc 100 Shoe Plaza Shoetown, ME 00001 Mr. Lancaster The audit of financial statements will assess the internal controls in use by the organization and mandated by the Sarbanes-Oxley Act (SOX) of 2002. The purpose of SOX is to incorporate corporate responsibility relating to issues of financial reporting. Section 404 focuses on the internal controls that have been implemented by the company as the internal controls are designed to protect the organizations assets from loss. The internal controls also help the organization to streamline processes so that organizational goals can be achieved with the best rate of return when using available assets. This letter serves to provide Mr. Lancaster with an overview of section 404 and other regulations that relate to the audit of internal controls as well as a synopsis of internal control risks that have and will be identified within Apollo Shoes Inc. This letter will also describe the responsibilities of our firm in regards to detecting and reporting fraud. In the SOX act, Section 404 suggests all publically traded organizations need to establish…show more content…
Internal controls will also help to ensure that Apollo Shoes avoids being a target for dishonest and fraudulent behavior by its employees, customers and suppliers. The internal control framework will provide our auditors with a reference point which they will measure the company’s performance in the applicable areas. Apollo Shoes Inc. should enforce certain control measures as many of them are integrated into the auditing process and will help ensure the organization is protecting itself from fraudulent behavior. The following are examples of internal control procedures for auditing

More about Acc 549 Internal Control Paper

Open Document