Law360 (April 13, 2018, 11:41 AM EDT) -- The D.C. Circuit has ruled that the Public Company Accounting Oversight Board violated a respondent's right to counsel when it compelled him to testify about a complex auditing matter — but then refused to permit his attorney to have the help of an auditing expert during the testimony. The decision, Laccetti v. U.S. Securities and Exchange Commission, threw out the sanctions against the respondent and ruled that the entire proceeding against him was invalid.
Laccetti establishes an important procedural right in PCAOB investigations, particularly given the complexity of the accounting and auditing issues that often arise. It also is a rebuke...
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