2022-Fall: ACNT-2331-V01-Internal Control and Auditing Chapter 6: Audit Evidence - Ethics Chapter 6: End of Chapter Q... Discussion Topic The PCAOB oversees all audit firms that audit public companies. The PCAOB recently barred (prevented) two former audit firm employees from auditing public companies, alleging they provided misleading documents to PCAOB inspectors who were evaluating the audit firm's work. The PCAOB said that shortly before its inspectors were to inspect one of the audit firm's audits, the two auditors created, backdated, and placed in the audit files a document concerning the valuation of one of the audit client's investments. One of the auditors allegedly authorized other members of the audit team to alter other working papers in advance of the inspection. The changes were not disclosed to the PCAOB. The audit firm indicated that the conduct of the two auditors had no impact on the client's financial statements or on the audit firm's audit conclusions. Instructions Please answer the following question using at least 100 words. After this, please respond to one of your peers using at least fifty words. Given that the auditors' conduct did not affect the client's financial statements or the audit firm's conclusions, why was this situation over audit documentation of concern to the PCAOB