A CPA firm is engaged to audit the financial statements of Garrison Corporation.The company's financial statements have never been audited before.The stockholders' equity section of Garrison Corporation's balance sheet at year-end follows:
Stockholders' Equity:

\begin{array}{l}\text { Capital stock-20,000 shares of } \$ 10 \text { par value authorized: }\\\begin{array}{lr}5,500 \text { shares issued and outstanding } & \$ 55,000 \\\text { Capital contributed in excess of par value of capital stock } & 63,800 \\\text { Retained earnings } & 110,000 \\\hline\end{array}\end{array}

Total stockholders' equity

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\underline {\$ 228,800}

Founded four years ago, Garrison Corporation has ten stockholders and serves as its own registrar and transfer agent. It has no capital stock subscription contracts in effect.
REQUIRED:
Prepare the detailed audit program for the examination of the three accounts composing the stockholders’ equity section of Garrison Corporation’s balance sheet. (Do not include in the audit program the verification of the results of the current-year operations.)

In Those Audits Where There Is a Heightened Risk of Fraud

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