Objective: Develop audit documentation skills, calculate materiality and apply professional judgement. Directions: Review the following client source documents: 2019 10-K.pdf 2020_Apollo_Organization_Chart-3.pdf 2020_Apollo_Shoes_Minutes-2.pdf Access the following workpaper spreadsheet with audit program and workpapers: Apollo_Planning_Part_2_Audit_Mini_Case.xls Check the PBC Trial Balance for accuracy. Trace the prior period Trial Balance to the prior period 10-K. Prepare the Materiality workpaper. Transfer items deemed significant to the audit to A-3 from Planning Part I Signoff on A-0 Audit Planning Program ADDITIONAL GUIDANCE: Review all posted materials related to the case. Review the instructions, audit program, and workpaper Trace (tie out) 12/31/2019 trial balance amounts to 2019 10-K. Some of the balances will need to be aggregated to tie out to financial reporting format (for example – cash). If the balance agrees to the 2019 10-K, document A-1 with A-3 (10-K) Foot (add up) the 12/31/2020 trial balance, aggregate total assets, liabilities, equity, revenue, expenses, and compute unadjusted net income. Document at the bottom of the trial balance workpaper (A-2). Use MS Excel functions to sum accounting elements. Prepare materiality workpaper (A-5). Sign-off on audit procedures performed on A-0 as preparer and reviewer with your initials. REMINDER – one submission per audit team DUE Monday, February 14th by 11:59 p.m. in Canvas
