answer the two questions by your own words this is an audit class
Please respond in your own words – not material copied and pasted or verbatim from another source
Use this document and fill in or your own document. (Please no “Pages†documents)
An important element of the public accounting profession is maintaining standards for those approved/licensed to practice. As discussed in class those who do not live up to the professional practice standards face discipline by their state licensing board, the AICPA, the SEC, and the PCAOB (if the CPA is working on public company audits).
1) Visit the web site for the California State Board of Accountancy and locate the section for Disciplinary Actions. Describe some of the issues that led to Elizabeth Nave Juan of Cerritos, CA., being disciplined by the California Board of Accountancy and related disciplinary actions. Please comment on the length of time the State Board of Accountancy went through in this investigation. Can you determine if she is still practicing as a CPA?
2)Visit the web site for the Public Company Accounting Oversight Board (PCAOB) and find the section dealing with disciplinary action related to Brady Jensen of Alameda, California in October of 2019 and the firm of B. F. Borgers, CPA of Lakewood, Colorado. Describe what led to this firm and individual being disciplined by the PCAOB. Describe some of the underlying issues that came to the attention of the audit team and the particular accounts involved in this audit. When did the infractions occur and what does this say about speed of disciplinary action by the PCAOB? Is Jensen still practicing as a CPA?
For further background on reasons why individuals are disciplined by professional organizations, feel free to browse through the list of individuals in these respective sites. Each state has its own board of accounting which posts disciplinary events for members and both the AICPA and PCAOB have such web sites.
