External financial statements are prepared on the assumption that the company is a going concern—the company will continue to operate indefinitely. Based on this assumption, assets are generally recorded at cost and depreciated over their expected useful... 

The audit function is crucial for ensuring the integrity of a company’s financial systems, which includes not only its financial results but also the control systems and code of ethics that are the cornerstones of an accurate financial reporting system.... 

At one time attest services provided by CPAs were limited to expressing a positive opinion on historical financial statements on the basis of an audit made in accordance with generally accepted auditing standards (GAAS). However, CPAs are increasingly...