Audit Process December 15, 2014 Apollo Shoes, Inc. 100 Chase Way Concord, NH 12345 To: Board of Directors, Apollo Shoes Inc. Thank you for trusting Williams, Taft, and Franklin to be Apollo Shoes Inc. Auditors. This letter is an explanation of the terms and processes of how WTF conducts an audit. This is not a letter of agreement, but more for educational purposes.
Finally, we discuss the trend of the ratios that determine Disney’s financial health. Ethics and Compliance In accordance with ethics and compliance of the financial environment surrounding Disney, proves the commitment to conduct business dealings in accordance with elevated standards surrounding ethics and compliance in conjunction with relevant laws and regulations. In addition to the commitment of ethical behavior and compliance, the board of directors and the employees promote a certain standard of performance; not to mention the adoption of a precise code of conduct, business conduct, and ethics that is crucial to the levels of the company. Directors and employee uphold every element that revolves around commitment, integrity, and equality. The company has an obligation to uphold the interest of shareholders, make fair judgments, and have a dedication to their fundamental duties.
The board of directors is responsible for overseeing and exercising corporate powers and certifying the company’s business affairs while managing the goals and objectives for long-term interests of the shareholders. Organizational Annual Report and SEC Filing The SEC requires publically traded companies to file annual financial reports, and these reports are open to the public. Investors are interested in these reports because it helps in determining the financial health of a company. As a means for providing guidelines, principles, and objectives for the financial markets in the United States, the Sarbanes-Oxley Act of 2002 enhances the SEC’s roles for reforming corporate accountability. This also includes establishing a private-sector regulator to oversee the auditing profession to combat accounting fraud, and enhancing financial disclosures.
Audit Program Design Part II Aquilla Carroll-Pendleton Alison Marlo Darrell Morris Cliff Parchmon ACC/546 November 4, 2013 Chandria Willis Audit Program Design Part II A part of designing Apollo Shoes' audit program includes testing controls for the company's various cycles. At this point in the audit planning, tests of controls, tests of transactions, and analytical procedures are designed for the following cycles: sales and collections, payroll and personnel, and acquisition and payment. Sales & Collection Cycle Tests of Controls Tests of Transactions Analytical Procedures Payroll & Personnel Cycle Tests of Controls Tests of Transactions Analytical Procedures Acquisition & Payment Cycle The auditing and acquisition cycle of the audit process for Apollo Shoes, Inc. will include test of controls, substantive tests of transactions, and analytical procedures. "The acquisition and payment cycle involves the decisions and processes necessary for obtaining the goods and services for operating a business" (Arens, Elder, & Beasley, 2012). The accounts are assessed base in accordance with the generally accepted accounting principles (GAAP) to ensure they are represented fairly.
“LJB Company…Headed in the right direction” Carl R. Smith Acct 504- Professor Wibbert 2-9-2014 1. To the LJB President: I would like to personally thank you for allowing my accounting firm to evaluate your company’s internal controls system. In my report you will be informed of any new internal control requirements required for LJB to go public as well as inform you of what your company is doing right and make any suggestions on what the company can do to get better. The interest of the company going public will be a very successful decision. Some tests have to be properly administered to do so.
Case 2.3: Happiness Express, Inc. 1. The primary audit objectives used by auditors to accomplish by confirming a client’s year-end accounts receivable is stated in SAS No. 67, the Confirmation Process. The assertions used by this standard include existence or occurrence, completeness, and valuation. The existence assertion is to make sure that the client and accounts exist, the completeness is to make sure that all of the balances are recorded, and the valuation is to make sure that the balances are recorded at the correct amount.
GAAP stands for Generally Accepted Accounting Principles. The common set of accounting principles, standards and procedures that companies use to compile their financial statements. GAAP are a combination of authoritative standards (set by policy boards) and simply the commonly accepted ways of recording and reporting accounting information. GAAP are imposed on companies so that investors have a minimum level of consistency in the financial statements they use when analyzing companies for investment purposes. GAAP cover such things as revenue recognition, balance sheet item classification and outstanding share measurements.
Working from an MI perspective will allow me as a future professional to have the knowledge it takes to determine my client(s) ability to change, I will know from using this approach whether or not my clients are ready, willing or able to change, using this approach will permit me to effectively help my clients move gradually towards change, not pushing them but meeting them where they are and helping them to help themselves to where they want to be. Creative Therapy, is a technique used to help individuals or families express what they cannot verbally, these techniques are remarkable in promoting change as well as placing emphasis on having and finding a deeper meaning of self. Studying Multicultural Issues, in my opinion is very important task in the helping field, this particular class has shown me that there are many issues culturally that are without notice or helped in this profession, therefore, as a future professional in this field I believe that it is privilege as well as a duty to provide help and service to all those who stand in need. I do not believe I could consider myself successful or even
Reflecting over the past weeks and assessing the impact of this course, I am now more aware that Counselling can help in a number of different ways. I have realised that at all time’s counsellors must show a commitment, and the client must feel reassured that their situation is probably not as despairing as they first thought. I have gained a great deal of knowledge on how to assist, understand and clarify with people on their views, also how to use the skills of counselling, for example paraphrasing, reflecting and summaries. Attending the counselling course has made a positive impact on my personal and professional life, in the way that I think, act and see situation, also the course has changed my perception of myself by making me more aware that it`s alright to say no when asked to do something I don`t what to do, I wouldn`t have classed myself as a people pleaser but working through this course I have become aware that from time to time I can be. The course has taught me to self-reflect, this has enable me to identify and develop personal awareness, Also the course has allowed me to be more aware on how to remain emotionally detached from the relationship that I will be developing with a client.
The transformational leader facilitates increased opportunity for staff –participation by inviting, listening and valuing the opinion of the team. This will in turn ease interpersonal conflict and non-cooperative relationships (Stordeur et al, 2001). Murphy (2005) identifies three types of contemporary transactional leadership. They are: 1. Active management - a leader who by exception monitors and intercedes before correction is required.