ACC/546 Financial Reporting: Audit Report & Internal Control Evaluation

This assignment provides an audit report and evaluates internal controls in financial reporting.

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Running head:AUDIT REPORT & INTERNAL CONTROL EVALUATION1AuditReport & Internal Control EvaluationCraig L. GranvilleACC/546Financial ReportingTodd LaPoreOctober 28, 2013In the provided audit report for Apollo Shoes, Inc., the auditors evaluate both the financialstatements and theeffectiveness of internal control over financial reporting. Based on theobservations made about the audit process and internal controls, discuss the key findingsregarding the audit approach, including sample selection, competence of evidence, and theeffectiveness of internal control systems. How would you address the identified weaknesses, andwhat improvements could be made to ensure more reliable financial reporting in the future?Word Count Requirement:600-800 words