The nation's highest court ordered a technical change Monday to the Sarbanes-Oxley accounting rules but left the broader law intact.
A government body that oversees accounting firms is structured in a way that's unconstitutional, the Supreme Court said. Under the 5-4 ruling, the Public Company Accounting Oversight Board can continue to operate with only minor changes.
The decision hands a victory to opponents of the 2002 corporate-governance law that created the panel, but it has little practical impact. Had the court ruled more broadly, it could have invalidated the accounting panel or even Sarbanes-Oxley itself.
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