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SOX granted the PCAOB investigative and disciplinary power over auditors of public companies. During the course of conducting inspections of auditing firms, the PCAOB may

SOX granted the PCAOB investigative and disciplinary power over auditors of public companies. During the course of conducting inspections of auditing firms, the PCAOB may become aware of certain behaviors or other matters that may lead to an investigation. Such was the case when the PCAOB contacted Goldstein and Morris to inform the firm that it would begin an inspection in November 2004. Shortly after being notified of the impending inspection, the firms managing partner, along with two other partners, determined to conceal certain information from the PCAOB.

Visit the PCAOB's websiteto learn about the disciplinary proceedings against the firm and the partners involved in this case, and then answer the following questions. You should read two sets of proceedings, one related to the firm of Goldstein and Morris CPAs, P.C., and the other related to Goldberger and Postelnik.

  1. What specific client-related matters prompted Goldstein and Morriss decision to conceal certain information from the PCAOB?
  2. What sanctions were imposed on the firm, the managing partner, and the two other partners involved in the investigation? Were these sanctions fair?

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