Lobby Group Hires Starr To Tackle SOX Board

Law360, New York (February 8, 2006, 12:00 AM EST) -- The accounting watchdog created by the 2002 Sarbanes-Oxley Act violates the constitution with its “massive, unchecked” powers, according to a federal lawsuit filed by Libertarian lobbyist group Free Enterprise Fund.

The fund, which lobbies on Capitol Hill to reduce corporate taxes, says the board’s allegedly overstretched power puts the entire U.S. economy at a disadvantage and keeps the president and Congress out of the loop on vital matters of accounting regulation.

The board was created to oversee the audit of public companies that are subject to...
To view the full article, register now.