Apollo Shoes
ENGAGEMENT MATERIALITY
(Required for all engagements)
A-5
Prepared by
Reviewed by
CLIENT: Apollo Shoes
PERIOD ENDED: December 31, 2020
This completed form must be provided to the engagement quality control reviewer in the planning stage of every
audit. Please complete all the cells highlighted in yellow.
PLANNING MATERIALITY CALCULATION
Only if the current year net income (loss) (or other measure) is significantly different from the
entity's historical results would 2-year averaging to obtain normalized net income (loss) (or other
measure) be appropriate.
PROFIT ORIENTED ENTITIES
Current Year
Prior Year
Net income (loss) 212,713,452 4,371,363
Plus (minus) unusual, non-recurring revenues
and expenses, and extraordinary items.
ADJUSTED NET INCOME (LOSS) 212,713,452 4,371,363
Adjusted net income (loss) multiplied by:
5% 10,635,673 218,568
TOTAL ASSETS
Current Year
124,915,834 36,793,726
Total assets multiplied by:
1% 1,249,000 368,000
TOTAL REVENUES
Current Year
130,196,046
Plus (minus) unusual, non-recurring revenues
ADJUSTED REVENUES 130,196,046.23
Total adjusted revenues multiplied by:
1% 1,301,960 0
