Refer to the Auditing in Practice feature The Importance of Professional Skepticism in Testing the Valuation of
Question:
Refer to the Auditing in Practice feature "The Importance of Professional Skepticism in Testing the Valuation of Inventory: The PCAOB Disciplines Ibarra." Go to the PCAOB Web site and download Enforcement Release No. 2006-009. After reading the release, answer the following questions.
a. Identify the pervasive problems that were detected by the PCAOB in its inspections of Ibarra.
b. Comment on the nature of punishments that were imposed and your reflections on their severity (or lack thereof).
c. What conduct of Ibarra strikes you as the most unethical in this situation?
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a The following are pervasive problems that were detected by the PCAOB in its inspections of Ibarra ...View the full answer
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