Apollo Shoes Casebook

Apollo Shoes Inc. is a company specializing in the global distribution of high quality tech shoes. Apollo has demonstrated leadership position in electronic shoes, and high tech shoes such as athletic shoes with amplified loudspeakers, and sneakers with a cellular phone. The company brands include SPEAKERSHOE, SPOTLIGHT, and SIREN. While Apollo has enjoyed rapid growth, however, there is a dramatic growth of unaudited Apollo income in the past few years.

The objective of this paper is to outline and substantiate procedures to detect irregularities in the following audit cycles

Accounts receivable

Inventory

Fixed Assets

Accounts receivable

From Apollo Shoe Case, the procedures to detect irregularities in the accounts receivable by Apollo are as follows:

Using the aged balance sheet and the deposit slips from January. The copies from the clients could also be used to tie the total into deposits. The procedure is to detect the cutoff...
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