Resources for Sarbanes-Oxley (SOX)

Appeals Court Upholds Sarbanes-Oxley Act

www.bloomberg.com

A federal appeals court upheld the legality of the board created by the Sarbanes-Oxley Act to oversee auditors, affirming the Public Company Accounting Oversight Board as the industry's watchdog. The U.S. Appeals Court for the District of Columbia Circuit ruled 2-1 today in rejecting a challenge by a Las Vegas accounting firm that argued the board's makeup violated the Constitution's separation of powers clause. A lower court judge tossed out the suit last year. PCAOB members are ``not required to be appointed by the president,'' Judge Judith Rogers, an appointee of President Bill Clinton, wrote in the majority opinion.

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