Select one of the following PCAOB Disciplinary Orders (available at www.pcaob.org).
1. ORDER INSTITUTING DISCIPLINARY PROCEEDINGS, MAKING FINDINGS, AND IMPOSING SANCTIONS In the Matter of Traci Jo Anderson and Traci Jo Anderson, CPA Respondents; PCAOB Release No. 105-2010-007
2. ORDER MAKING FINDINGS AND IMPOSING SANCTIONS In the Matter of Ray O Westergard, CPA, Respondent; PCAOB Release No. 105-2010-003
3. ORDER INSTITUTING DISCIPLINARY PROCEEDINGS, MAKING FINDINGS, AND IMPOSING SANCTIONS In the Matter of Williams & Webster, P.S., Kevin J. Williams, CPA, and John G. Webster, CPA, Respondents; PCAOB Release No. 105-2007-001
4. ORDER INSTITUTING DISCIPLINARY PROCEEDINGS, MAKING FINDINGS, AND IMPOSING SANCTIONS In the Matter of Armando C. Ibarra, P.C., Armando C. Ibarra, Sr., and Armando C. Ibarra, Jr., Respondents; PCAOB No. 105 2006-001 After reading your selected disciplinary order, address the following issues:
a. Identify the key audit deficiencies related to accounts, disclosures, and assertions in the revenue cycle.
b. For each identified deficiency, indicate the appropriate action that should have been taken by the auditor.
c. In assessing the case overall, indicate (1) whether the auditor had an appropriate level of professional skepticism; (2) if applicable, what might have led the auditor to behave in an unethical manner; and (3) whether the sanctions against the auditor/ audit firm seem reasonable.