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This is related to the Apollo Shoes audit case,
Sorry I haven't made it out to Apollo yet. I did meet with Jeff Chestnut (Apollo's corporate secretary) who allowed me to copy the minutes of the Board of Directors. The board of directors met twice during the period under audit, January 1 through December 31, and once more last week. I have attached copies. Study these minutes - they provide a history of every important event and transaction that Apollo has undergone during the past year. Make notes in the form below for the audit working papers of matters relevant for the audit of the 2014 financial statements. Prepare a working paper (GA-3) for my review with proper headings and these two columns:
Information Relevant to 2014 Audit
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
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