Holmes Institute HI5025 Memo 01 – Semester 03, 2014
Background:
Mr. Dewey, a Senior Partner of the CPA firm
Dewey, Cheatem, & Howe, after noting that
many positivist-accounting theorists and rightwing
economists recommend that general
purpose financial statements (GPFS) be
deregulated and let market forces control the
quality of GPFS, has suggested that the role
(and revenues) of independent external audit
firms will be dramatically enhanced.
Required:
Give insight on this issue in a ½ to 1½ page
Memo that is addressed to Mr. Tu Dewie and
resolves his concerns.
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