US audit watchdog remains intact after constitutional challenge
The US audit watchdog has survived a court challenge which threatened to overturn the regulator landmark US legislation born out of the Enron scandal.
Under the ruling, handed down by the US Supreme Court yesterday, the audit industry regulator, the Public Company Accounting Oversight Board (PCAOB), will continue to operate, however its board members will be removable by the US securities regulator “at will” rather than for “good cause”.
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