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Sarbanes-Oxley News & Developments
SEC Supports PCAOB in Lawsuit DefenseThe February suit challenged the constitutionality of the accounting oversight board created by Sarbanes-Oxley in 2002.
> > Under Sarbox, the SEC is charged with supervising the PCAOB. The accounting board is responsible for registering public accounting firms, issuing auditing standards, inspecting public accounting firms, and disciplining the firms and their associates.
The DOJ-SEC brief attempts to refute the lawsuits argument that the setup of the PCAOB violates the separation of powers principal under the Constitution as well as its appointments clause. In both cases, the lawsuit contends, problems arise because members of the SEC
Source: CFO
Published:2006-09-18
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