ACCOUNTING-Refer to the Auditing in Practice feature âThe Importance
QUESTION
Refer to the Auditing in Practice feature âThe Importanceof Professional Skepticism in Testing the Valuation of Inventory:The PCAOB Disciplines Ibarra.â Go to the PCAOB Web site anddownload Enforcement Release No. 2006-009. After reading therelease, answer the following questions.a. Identify the pervasive problems that were detected by thePCAOB in its inspections of Ibarra.b. Comment on the nature of punishments that were imposed andyour reflections on their severity (or lack thereof).c. What conduct of Ibarra strikes you as the most unethical inthis situation?
ANSWER:
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