Essay about Auditor Letter

Submitted By roald85

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April 3, 2015
To Whom It May Concern,
This is to confirm our scheduled meeting and understanding for the financial audit of Apollo Shoes, to be completed May 11-15, 2015.
The audit will be looking at the balance sheet, statements of income, stockholders equity, cash flows and any other pertinent work papers needed to ensure their compliance with GAAP. The effective date for the audit will be April 31, 2015. In addition we will be reviewing whether or not Apollo Shoes internal controls are in compliance with the Sarbans-Oxly Act. Management will be responsible for correcting any misstatements notated in the Audit opinion. According to GAAP there is no requirement for assurances to be absolute. Misstatements may remain unnoticed and the audit is not designed to detect issues that are immaterial to the financial statements. If the audit is not able to be completed or XYZ Auditors is not able to form an opinion, we may choose to not issue a report as a result of our meeting.
Our audit will be in accordance with the Public Company Accounting Oversight Board. This standard requires that we plan and perform the audit to ensure that financial statements are free from gross misstatements. The audit will review financial statements and test supporting documentation supporting the financial statements. This will be done to confirm accounting principles used and help in the evaluation of the overall presentation of the financial statements. We will audit internal controls for financial reporting in which we will test and evaluate the effectiveness of the procedures and policies of your current internal controls.
The internal controls of financial reporting should give a reasonable assurance that the reliability and preparation of financial statements for external use are in accordance with GAAP. The policies and procedures should pertain to the record maintenance which accurately the transactions of Apollo Shoes. It should also provide assurances that recording is done as necessary to

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