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You are the investigator assigned to Apollo Shoes. Based on the nature of the company and the evidence provided to you, you must determine which financial statement fraud schemes would likely be present in the company.
· Resource: Apollo Shoes Casebook
· Identify potential financial statement fraud schemes by using the Apollo Shoes Casebook.
· Describe the types of evidence you would look for to determine whether fraud is occurring.
· Write a business brief of no more than 1,050 words that outlines how you will use the substantive procedures discussed in Weeks Three and Four to analyze potential schemes.
Company's past experience indicates that 60% of its credit sales are collected in the month of sale, 30% in the next month, and 5 % in the second month after the sale; the remainder is never collected. Budgeted credit sales were:
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