Final answer:
1) For the Apollo Shoes 2019 10-K report, relevant facts impacting the audit could be changes in revenue policies, inventory levels, and year-end transactions.
2) A significant account or disclosure is one that holds enough importance to potentially influence financial decisions if misreported.
Step-by-step explanation:
1) When analyzing the 2019 10-K report for Apollo Shoes, three relevant facts that could have an impact on the financial statement audit include: changes in revenue recognition policies, significant fluctuations in inventory levels, and any large, unusual transactions or events occurring close to the end of the fiscal year
These factors could affect the valuation and presentation of the financial statements, and therefore are crucial for the auditor to consider.
2) A significant account or disclosure is an element within the financial statements that is of substantial importance and which, if misstated or omitted, could influence the economic decisions of users.
This often relates to accounts or disclosures that represent a considerable portion of the financial statements, or involve a higher degree of estimation and judgment from management, making them more susceptible to potential misstatement.