Ever since Congress created the Public Company Accounting Oversight Board (PCAOB) in 2002, business executives and free-market groups have groused that the accounting-industry regulator wields too much unchecked power. Now, a free-market advocacy group and a small accounting firm are poised to take that complaint to court.
On Feb. 7, the Free Enterprise Fund joined Beckstead & Watts, an accounting firm based in Henderson, Nev., to challenge the constitutionality of the PCAOB in U.S. district court in Washington.
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