Audit Introduction Letter

Topics: Auditing, Financial audit, Audit Pages: 4 (1170 words) Published: July 14, 2013
Audit Introduction Letter
Elizabeth Grieco
ACC 546
February 11, 2013
Hillary D. Edmondson

Audit Introduction Letter
TO: Apollo Shoes, Inc.
FROM: Elizabeth Grieco, Auditor-In-Charge
Anderson, Olds, and Watershed (AOW)
DATE: February 11, 2013
SUBJECT: Auditing and Other Assurance Services Available

This memo includes information regarding the services that Anderson, Olds, and Watershed (AOW) is able to provide to clients as well as the standards that auditors must follow during an audit. I have also outlined here my responsibilities as auditor-in-charge during an audit. AVAILABLE SERVICES:

AOW offers a multitude of auditing and assurance services to our clients, including conducting external audits, and attestation and other assurance services: External Audits:
There are three types of external audits that AOW provides: 1. Compliance audits,
2. Financial audits, and
3. Operational audits (Arens, Elder, & Beasley, 2012). During a compliance audit, our goal is to determine whether or not our client is following any and all specific procedures, rules, or regulations that have been set by a higher authority, e.g., the SEC. The results of the audit are then shared with management (Arens, Elder, & Beasley, 2012). In a financial audit, our goal is to determine whether or not our client’s financial statements are TO: Apollo Shoes, Inc.

stated in accordance with applicable criterion (Arens, Elder, & Beasley, 2012). During an operational audit, we evaluate the effectiveness and efficiency of the particular piece of operations that we are auditing. We are then able to provide the client with recommendations for improving said operations (Arens, Elder, & Beasley, 2012). Attestation Services:

Attestation services are a type of assurance service that we offer to our clients in which AOW will issue a report about the reliability of an assertion made by a client. We provide five different types of...

References: AICPA. (2013). Code of Professional Conduct. Retrieved from
Arens, A. A., Elder, R. J., & Beasley, M. S. (2012). Auditing and Assurance Services: An Integrated Approach (14th ed.). Upper Saddle River, NJ: Pearson Education, Inc..
Heaps, S. (2013). How to Write a Business Memo. Retrieved from
Louwers, T. J., & Reynolds, J. K. (2002). Apollo Shoes Casebook. New York, NY: McGraw-Hill.
Louwers, T. J., Ramsay, R. J., Sinason, D. H., & Strawser, J. R. (2007). Auditing & Assurance Services: A Look Beneath the Surface (2nd ed.). New York, NY: McGraw-Hill.
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