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?