The instructor asks you to prepare answers for the

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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...
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