PCAOB's Future In The Supreme Court's Hands

Law360, New York (January 29, 2010, 4:22 PM EST) -- The Supreme Court recently heard oral arguments in a case that will decide the future of the Public Company Accounting Oversight Board (“PCAOB” or the “Board”). While it is unlikely that a decision in the case, Free Enterprise Fund v. PCAOB,[1] will result in the PCAOB’s dissolution, it could significantly change the Board’s jurisdiction over public accounting firms and individual accountants and have a major impact on its regulatory role.

Since the enactment of its rules in 2004, the PCAOB has initiated 26 cases resulting in...
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