A federal judge has dismissed a lawsuit filed by a small Nevada audit firm challenging the constitutionality of the Public Company Accounting Oversight Board.
In a 14-page decision, U.S. District Judge James Robertson ruled against the suit, which was filed by Beckstead & Watts LLP of Henderson, Nev., and later joined by the tax and government reform activist group the Free Enterprise Fund. The suit had not only challenged the PCAOB, but also the Sarbanes-Oxley Act -- the sweeping corporate reform law that mandated the creation of the audit watchdog.
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