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Conservative Group Challenges Sarbox

Conservative Group Challenges Sarbox

by Rick Turoczy on February 19, 2006

A free-market advocacy group has filed a lawsuit that challenges the legal authority of the Public Company Accounting Oversight Board to police the accounting profession.

The Free Enterprise Fund asserted in a press release that the Sarbanes-Oxley Act of 2002 — the landmark legislation that created the PCAOB — “was rushed into law” with legitimate intentions but “ultimately has produced costly unintended consequences for publicly traded U.S. businesses, entrepreneurs, and capital markets.”

Conservative Group Challenges Sarbox

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