PCAOB constitutional drama not over yet

Recall that the constitutionality of the Public Company Accounting Oversight Board was narrowly affirmed by the U.S. Court of Appeals for the D.C. Circuit, which voted five to four not to hear a case brought by the Free Enterprise Fund and Beckstead & Watts, a small Nevada accounting firm that was inspected by the PCAOB. The saga is not over, however. According to WebCPA, the Competitive Enterprise Institute, an advocacy group, and law firm Jones Day plans to appeal the case to the Supreme Court. They will again argue that the PCAOB is unconstitutional on the grounds that "the board violates the Constitution's appointments clause, which requires that major officers be appointed by the president with the advice and consent of the Senate. PCAOB members are selected by the Securities and Exchange Commission acting as a body, rather than by the president or the SEC chairman."

For more:
- here's the article

Related Articles:
PCAOB news from FierceFinance