Apollo Shoes
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- Category: Politics: Economics
- Date Submitted: 01/05/2011 02:37 PM
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Apollo Shoes Case
ACC/491
May 17, 2009
Date: Thu, 17 JAN 2008 7:42:53 +0000
From: "Darlene Wardlaw"
Subject: Understanding the Revenue Cycle
Attachment:
I’ve attached a Sales internal control questionnaire from another engagement that I think you can use for Apollo. You may want to talk to Karina Ramirez to get answers to the questions.
1. Complete the ICQ for Apollo. For “yes” answers, add a comment stating which department and clerk performs the function. For “no” answers, describe the possible “errors” or “frauds” that could occur because of the control weakness.
2. I’ve started a flowchart and listed some strengths and weaknesses, but had to leave before I could finish it. See if you need to add any more strengths and/or weaknesses that you find from the ICQ and narrative descriptions of the revenue cycle.
DW
Date: Thu, 17 JAN 2008 13:02:47 +0000
From: "Karina Ramirez"
Subject: Revenue and Collection Cycle Documentation
I have excerpted from our workpapers a description of Apollo’s Accounting and Control Systems over the Revenue/Collection Cycle and Purchasing/Cash Disbursements. I’ve also gave a copy of a flowchart of sales transaction processing to Darlene.
We have not developed one for the purchasing cycle yet, but we plan to do so once your audit is ended and our assistance is no longer necessary.
Hope you find the info useful. Let me know if you have any questions.
Karina
Karina Ramirez
Director, Internal Audit
Apollo Shoes, Inc.
This Apollo message (including any attachments) contains confidential information intended for a specific individual and purpose, and is protected by law. If you are not the intended recipient, you should delete this message and are hereby notified that any disclosure, copying, or distribution of this message, or the taking of any action based on it, is strictly prohibited.
Apollo Accounting and Control Systems: Revenue and Collection Cycle
As evident in the...
ACC/491
May 17, 2009
Date: Thu, 17 JAN 2008 7:42:53 +0000
From: "Darlene Wardlaw"
Subject: Understanding the Revenue Cycle
Attachment:
I’ve attached a Sales internal control questionnaire from another engagement that I think you can use for Apollo. You may want to talk to Karina Ramirez to get answers to the questions.
1. Complete the ICQ for Apollo. For “yes” answers, add a comment stating which department and clerk performs the function. For “no” answers, describe the possible “errors” or “frauds” that could occur because of the control weakness.
2. I’ve started a flowchart and listed some strengths and weaknesses, but had to leave before I could finish it. See if you need to add any more strengths and/or weaknesses that you find from the ICQ and narrative descriptions of the revenue cycle.
DW
Date: Thu, 17 JAN 2008 13:02:47 +0000
From: "Karina Ramirez"
Subject: Revenue and Collection Cycle Documentation
I have excerpted from our workpapers a description of Apollo’s Accounting and Control Systems over the Revenue/Collection Cycle and Purchasing/Cash Disbursements. I’ve also gave a copy of a flowchart of sales transaction processing to Darlene.
We have not developed one for the purchasing cycle yet, but we plan to do so once your audit is ended and our assistance is no longer necessary.
Hope you find the info useful. Let me know if you have any questions.
Karina
Karina Ramirez
Director, Internal Audit
Apollo Shoes, Inc.
This Apollo message (including any attachments) contains confidential information intended for a specific individual and purpose, and is protected by law. If you are not the intended recipient, you should delete this message and are hereby notified that any disclosure, copying, or distribution of this message, or the taking of any action based on it, is strictly prohibited.
Apollo Accounting and Control Systems: Revenue and Collection Cycle
As evident in the...