You recently attended your five-year college reunion. At the main reception, you encountered an old friend, Dashawn Beagle, 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 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. Required: Draft a one-page memo that highlights your thoughts about Dashawns statement that audits only take place because they are required by law. AUDITING OR ACCOUNTING.