Risks in planning the audit by examining client

 

Identify risks in planning the audit by examining client source documents: 10-K, Board Minutes, Letter to Shareholders, Organizational Chart, and IT Systems.

Apollo Shoes, Inc is a global distributor specializing in technologically superior athletic podiatric products. Apollo is a new client to the firm. Our objective at this phase in planning the audit is to become familiar with the client and identify risks associated with the audit, so we can plan the audit accordingly. Information obtained and documented in the planning phase should help guide risk assessments for the current year audit. Recommended audit actions should be provided with findings and observations.

Directions:

Review the following client source documents:

2019 10-K_v2-1.pdf
2020_Apollo_Organization_Chart-2.pdf
2020_Apollo_Shoes_Minutes-1.pdf
CEO Letter Shareholders 2020-1.pdf
New IT System Details-1.pdf
Access the following workpaper spreadsheet with audit program and workpapers: Apollo_Planning_Part_1_Audit_Mini_Case.xls

Review the email from your Audit Manager and respond accordingly
Identify significant audit items on workpaper A-3
Sign-off on A-0 Audit Program upon completion of audit procedure
Review all posted materials related to the case.
Review the instructions, audit program, and workpaper
Identify significant audit items, summarize on A-3, consider and document evidence necessary to gather, audit procedures to apply to text the items, and anticipated effect on the financial statements. For each team member’s contribution, identify with your initials.

Sample Solution

tion the harm does not lead to war, it depends on the extent or proportionality, another condition to jus ad bellum (Begby et al (2006b), Page 314). Frowe, however, argues the idea of “just cause” based on “Sovereignty” which refers to the protection of political and territorial rights, along with human rights. In contemporary view, this view is more complicated to answer, given the rise of globalisation. Similarly, it is difficult to measure proportionality, particularly in war, because not only that there is an epistemic problem in calculating, but again today’s world has developed (Frowe (2011), Page 54-6).
Furthermore, Vittola argues war is necessary, not only for defensive purposes, ‘since it is lawful to resist force with force,’ but also to fight against the unjust, an offensive war, nations which are not punished for acting unjustly towards its own people or have unjustly taken land from the home nation (Begby et al (2006b), Page 310&313); to “teach its enemies a lesson,” but mainly to achieve the aim of war. This validates Aristotle’s argument: ‘there must be war for the sake of peace (Aristotle (1996), Page 187). However, Frowe argues “self-defence” has a plurality of descriptions, seen in Chapter 1, showing that self-defence cannot always justify one’s actions. Even more problematic, is the case of self-defence in war, where two conflicting views are established: The Collectivists, a whole new theory and the Individualists, the continuation of the domestic theory of self-defence (Frowe (2011), Page 9& 29-34). More importantly, Frowe refutes Vittola’s view on vengeance because firstly it empowers the punisher’s authority, but also today’s world prevents this action between countries through legal bodies like the UN, since we have modernised into a relatively peaceful society (Frowe (2011), Page 80-1). Most importantly, Frowe further refutes Vittola through his claim that ‘right intention cannot be used as an excuse to wage war in response to anticipated wrong,’ suggesting we cannot just harm another just because they have done something unjust. Other factors need to be considered, for example, Proportionality.
Thirdly, Vittola argues that war should be avoided (Begby et al (2006b), Page 332) and that we should proceed circumstances diplomatically. This is supported by the “last resort” stance in Frowe, where war should not be permitted unless all measures to seek diplomacy fails (Frowe (2011), Page 62). This means war shouldn’t be declared until one party has no choice but to declare war, in order to protect its t

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