Daily Archives: September 20, 2008, 2:07 pm

D.C. Circuit Asked to Rehear PCAOB Constitutionality Challenge

As discussed here previously, on August 22, 2008 the U.S. Appeals Court for the District of Columbia Circuit held that the Public Company Accounting Oversight Board (PCAOB) created by the Sarbanes-Oxley Act to oversee auditors was constitutional. A Las Vegas accounting firm had challenged the board’s legality in a 2006 lawsuit, arguing its makeup violated the Constitution’s separation of powers…

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CBS News Video: “Where was the SEC?”

CBS News has this video today asking the question: “Where was the SEC?” In it, former SEC attorney Howard Schiffman states that “Here it’s not as important to find out who was responsible for the fire, but maybe should have stopped there ever being a fire.” Former SEC Chairman Harvey Pitt, however, defends the SEC. He says that the bulk…

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