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Court challenge seen to U.S. audit watchdog board

Court challenge seen to U.S. audit watchdog board

by Rick Turoczy on February 7, 2006

The challenge would question the constitutionality of the Public Company Accounting Oversight Board (PCAOB), said Peter Wallison, a resident fellow and financial issues specialist at the American Enterprise Institute, a Washington-based conservative think tank. The argument would be that the PCAOB ‘is unconstitutionally created, that it violates the appointments clause of the constitution as a regulatory body that was created without an appropriate appointment by the president, which is required,’ Wallison said.

Court challenge seen to U.S. audit watchdog board

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