Apollo Shoes Minutes

Date: 13 JAN 2015 12:45:39 +0000

From: "Darlene Wardlaw"

Subject: Apollo Shoes minutes

Hope the inventory observation went well. I saw Bradley in the office working on some inventory stuff. He said that he would e-mail it to you when it was completed.

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 Audit Action Recommended

You may want to stick a copy of the minutes in the workpapers (GA-3-1, GA-3-2, etc.) behind your memo when you are done with them.

DW

Meeting Held January 6, 2014

Larry Lancaster, chairman of the board, presided over the first meeting of the year, beginning at 3 p.m. The meeting was conducted in the boardroom of Apollo’s new global headquarters. All members were present:

Larry Lancaster

Josephine Mandeville** Fritz Brenner**

Ivan Gorr* Theodore Horstmann**

Harry Baker* Eric Unum

* Outside director ** Outside director and member of the audit committee.

The minutes of the December 16, 2013 meeting were reviewed and approved.

Reporting on the annual meeting of shareholders, Mr. Lancaster welcomed the new or reelected board members: Josephine C. Mandeville, Professor of Accountancy and Typing at the Graduate School of Business and Clerical Skills; Ivan W. Gorr, President and CEO of Far More Drugs;...