PCAOB FACES SUPREME COURT THREAT
June 1st, 2009
BY RUSSELL BERMAN
AMERICA'S Public Company Accounting Oversight Board (PCAOB) could be altered or even scrapped entirely after the US Supreme Court agreed to consider a lawsuit challenging the constitutionality of the 2002 law that created it.
As the highest judicial authority on the country, the Supreme Court's announcement on May 18 that it would hear a case this autumn brought against the Sarbanes-Oxley Act of 2002 has caused a major stir. Congress, of course, passed the law in response to the accounting scandals surrounding firms such as Enron, WorldCom and ...
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