Members of the Public Company Accounting Oversight Board may be breathing a sigh of relief that their organization has been ruled constitutional, but their opponents could decide to take their case to the Supreme Court.
A three-judge panel on the U.S. Appeals Court for the District of Columbia Circuit ruled in a 2-1 decision that the makeup of the PCAOB under the Sarbanes-Oxley Act does not violate the appointments clause and separation of powers in the Constitution (see Appeals Court Rules PCAOB Is Constitutional).
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