Business Services Industry
SOX legal challenge misses point.
Australasian Business Intelligence, March, 2006
Byline: Stuart Fagg
Mar 10, 2006 (Lawyers Weekly - ABIX via COMTEX) -- The Public Company Accounting Oversight Board (PCAOB) is under attack from conservative politicians. The Free Enterprise Foundation has filed a lawsuit in the US District Court in Washington, claiming that the PCAOB violates the US Constitution as its members are appointed by members of the Securities & Exchange Commission. Ian Ramsey, director of the Centre for Corporate Law & Securities at the University of Melbourne, says section 404 of the Sarbanes-Oxley Act is a much more important issue due to its substantial cost imposition.
Publication Date: 10 March 2006
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