Draft a memo that highlights your thoughts about tobin

Reference no: EM133609034

Question: You recently attended your five-year college reunion. At the main reception, you encountered an old friend, Samson John, who recently graduated from law school and is now practicing with a large law firm in town. When you told him that you are a CPA and employed by Mercy CPA firm, he made the following statement: "You know, if the securities acts (the Securities Act of 1933 and the Securities Exchange Act of 1934) had not been passed by Congress in the 1930s, no one would be interested in having an audit performed."

a. Draft a memo that highlights your thoughts about Tobin's statement that audits only takes place because they are required by law." 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.

Reference no: EM133609034

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