Why do companies have to prepare accounts and why must they be audited? Think about going concern, fraud, keeping accurate records, internal control and the idea of reasonable assurance

Understand audit risk and the requirements of going concern. What if a company had no permanent accountant, arguments amongst directors and more liabilities than assets and difficulties in raising more finance? Think of your audit strategy.
If you are the auditors, tax accountants and financial advisors to a company what issues of independence may arise? What are the benefits to accounting firms and clients of being able to give audit and non- audit services from the same firm?
Why do companies have to prepare accounts and why must they be audited? Think about going concern, fraud, keeping accurate records, internal control and the idea of reasonable assurance.