Last Updated 27 May 2020

Auditing Introduction Letter

Category Accounting, Auditing
Essay type Research
Words 672 (2 pages)
Views 336

Dear Mr. Lancaster, I understand that Apollo Shoes, Incorporated is concerned about acquiring certain auditing and assurance services. In today’s business world a company needs to stay ahead by operating more successfully and proficiently than its competition. Stromsodt can help Apollo Shoes to gain this advantage by offering auditing and assurance services designed for the company needs. Stromsodt is a company with certification in Service Auditor Assessments as well as provides specialization of auditing in areas of superior athletic podiatric products.

Stromsodt has been providing auditing and assurance services to businesses just like yours for more than 30 years. With more than three decades of experience, Stromsodt has helped over hundreds of companies to achieve their company objectives and run more proficiently. Stromsodt is a company that is more productive and cost-effective than any other auditing and assurance service company. The company provides timely, experienced services at reasonable fees. The Auditing and Assurance services Stromsodt offers are as follows 1. Statutory Audits 2. Internal Audits 3. Risk Management.

Corporate Governance 5. Tax Audit 6. Management Audits 7. Review of Accounts 8. Special Audits 9. Due diligence 10. Restatement as according to International Accounting Standards (IAS)/ General Accepted Accounting Principles (GAAP) These services will benefit Apollo Shoes by 1. Ascertain whether the presentation of accounts are fair and true 2. Timely detection of errors and fraud in the company 3. Timely identification of risks of material misstatements 4. Validation of accuracy, validity, and authenticity of account information 5. Improvement of profitability . Maximization of revenue recovery 7. Preparation of documents on a timely basis What other firms fail to deliver, Stromsodt delivers. Stromsodt brings value to a company by focusing on a company’s objectives. Part of Stromsodt’s core philosophy is to provide and perform services that add only value to a client to reach set objectives. The company abides by five essential principles when performing services for a client. These principles are integrity, objectivity, professional competence along with due care, confidentiality, and professional behavior.

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The roles I perform at Stromsodt vary depending upon the service. Some general tasks I perform include 1. Reviewing financial statements to determine conformity to GAAP 2. Attesting the effectiveness of internal controls over financial reporting 3. Reviewing previous financial report. Reviewing financial statements to determine conformity to GAAP helps a company by establishing to external users the assurance of a company’s financial statements. Attesting the effectiveness of internal controls over financial reporting helps to ensure no potential material misstatements or raudulent activities have occurred. This helps to lessen the likelihood of occurrence of these activities as well.

Reviewing previous reports can provide assurance to a company in knowing that its previous reports are accurate. In providing these services I would make sure that Apollo Shoes has the necessary information to achieve the objectives of the company by abiding by the five principles set forth by Stromsodt. I will also adhere to the 10 general accepted accounting standards an accountant or CPA is required to adhere by. These standards are as follows 1. Display adequate training and proficiency. 2. Maintain independence from the audited company. 3. Display professionalism in performance and planning the report. 4. Adequately plan the fieldwork and supervise assistants. 5. Sufficiently understand the internal control of the company as well as determine the tests to test these controls. 6. Provide sufficient information to back up opinion formed on the financial statements. 7. State and report if the financial statements represented are in accordance with GAAP. 8. State and report circumstances of company not consistently using principles 9.

Recommend additional information for disclosures expected to be in financial statements. 10. Provide opinion on the financial statements. In conclusion, I look forward to talking further about Apollo Shoes auditing and assurance needs and about how much Stromsodt can provide Apollo Shoes with these services. Please feel free to contact me anytime regarding this proposal. Thank you for the opportunity to submit the proposal, and I, along with the entire staff at Stromsodt, are looking forward to working with Apollo Shoes in the near future.

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Auditing Introduction Letter. (2017, May 26). Retrieved from https://phdessay.com/auditing-introduction-letter/

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