Discussion:
An engagement letter for Apollo Shoes. Assume that Apollo Shoes is a publicly traded company and that they have asked for SOX Section 404 consulting following the audit engagement you just completed. Include the following key points:
The difference between the financial statement audit your firm just completed and the internal control consulting engagement you are about to perform
Significant regulations and guidelines related to audits of internal control
Internal control risks identified within Apollo Shoes
A description of the relationship between internal controls and the audit process
A brief synopsis of your responsibility in detecting and reporting fraud.