This preview shows page 1. Sign up to view the full content.
Unformatted text preview: is now practicing with a large law ﬁrm in town. When
you told him that you were a CPA and employed by a regional CPA ﬁrm,
he made the following statement: “You know, if the securities acts had
not been passed by Congress in the 1930s, no one would be interested in
having an audit performed. You auditors are just creatures of regulation.” 26/05/11 9:24 PM Conﬁrming Pages 30 Part 1 Introduction to Assurance and Financial Statement Auditing Required:
Draft a memo that highlights your thoughts about Lee’s statement that
auditors are “creatures of regulation.” Be sure to consider relevant evidence of a demand for auditing services outside of legal and regulatory
requirements in your memo, and focus on the value that auditing provides.
LO 2,3 1-25 Greenbloom Garden Centers is a small, privately held corporation that has
two stores in Orlando, Florida. The Greenbloom family owns 100 percent
of the company’s stock, and family members manage the operations. Sales
at the company...
View Full Document