$2-29$ PROFESSIONAL SKEPTICISM

PCAOB, W$.$T$.$ UNIACK CPA $($LO $4)$

Obtain a copy of the PCAOB$$s enforcement Release No$.105-2017-028($May $24,2017),$ with respect to the matter of W$.$T$.$ Uniack CPA and the audit of Bravo Multinational incorporated. To find it$,$ go to the PCAOB website, look under $$Enforcement$$ and $$Settled Disciplinary Orders.$$

a$)$ While we often think of client management as committing fraud, is it possible that auditors commit fraud by neglecting their professional duties?

b$)$ How did William Uniack, CPA, neglect his professional duties?

c$)$ Auditing firms heavily rely on their reputation to attract clients. Why might Bravo Multinational Incorporated have sought to purchase the auditing services of W$.$T$.$ Uniack CPA? What does it mean to perform a $$sham audit$?$