Questions surround start of new Supreme Court term Oct 5, 2009
The term already includes potential blockbuster cases examining the applicability of Second Amendment gun rights to state and local governments, campaign-finance regulations, life sentences for juveniles, and whether Congress violated the separation of powers when it created an independent accounting oversight board. The court's options will reveal more than just legal winners and losers. (Christian Science Monitor -- USA)
Not Spongeworthy Sep 17, 2009
Drakeford lost its accreditation from the Public Company Accounting Oversight Board on June 16, according to a letter from the SEC. ... Drakeford lost its accreditation from the Public Company Accounting Oversight Board on June 16, according to a letter from the SEC.. (New York Post -- Business)
Five People Who Stayed Clean in Banking's Bilge Sep 10, 2009
Today, the 45-year- old St. Denis leads the Office of Research and Analysis for the Public Company Accounting Oversight Board in Washington, which regulates the auditing profession. His includes helping the boards inspectors spot accounting tricks that auditors miss. (Bloomberg -- Columnists)
Former House Chairman Michael Oxley to Lead ERC Board Aug 19, 2009
The landmark Sarbanes-Oxley Act of 2002 is credited with restoring Americans' confidence in the capital markets early in the decade and created a new accounting oversight board for publicly traded companies. At Baker Hostetler, Oxley is part of the Government Policy Group, which represents multinational and corporate clients seeking to resolve or avert problems related to federal and/or state policy through legislative or administrative solutions. (PR Newswire)
Arizona's stimulus funds going mostly unused Jul 9, 2009
Larence said the GAO remains concerned that Arizona's accounting oversight is inadequate. The state comptroller's office has met with federal officials and has indicated a plan to bring Arizona into compliance, she said. (AZCentral -- News)
How Good Is Your Audit Firm? Jun 27, 2009
An October 2008 report issued by the U.S. Treasury Department's Advisory Committee on the Auditing Profession has triggered the current debate on Arthur Levitt and former SEC chief accountant, Don Nicolaisen, directs the Public Company Accounting Oversight Board (PCAOB). The report from the committee, co-chaired by former Securities and Exchange Commission chairman Arthur Levitt and former SEC chief accountant, Don Nicolaisen, directs the Public Company Accounting Oversight Board (PCAOB) the... (BusinessWeek)
PwC's return to consultancy sparks conflict allegations May 28, 2009
When she raised the issues with the Public Company Accounting Oversight Board (PCOAB), they responded that Sarbanes-Oxley law gives them the authority to stop acquisitions that are not in the public interest - but it does not give regulators the power to stop acquisitions by audit firms. (Edited in response to clarification posted below - Ed.). (Accounting Web, UK)
Supreme Court to Hear Sarbanes-Oxley Challenge May 20, 2009
The justices agreed to review a ruling by a U.S. appeals court that upheld the Sarbanes-Oxley Act of 2002, which set up the private sector Public Company Accounting Oversight Board ... "We believe that Congress acted properly and within its constitutional authority when it established the accounting oversight board to protect investors," SEC spokesman John Nester said. (SmallBusinessComputing)
PCAOB and Sarbox In The Dock May 19, 2009
The Supreme Court this morning certiorari in Free Enterprise Fund and Beckstead and Watts, LLP v. Public Company Accounting Oversight Board, et al., No. 08-861 on the Court's docket ... August, a divided panel of the DC Circuit rejected a separation of powers challenge to the provision of Sarbanes-Oxley governing the Public Company Accounting Oversight Board's appointment. (Human Events Online)
High Court Rules in Pregnancy Leave Case, Agrees to Hear Challenge to SOX Board May 19, 2009
Also on Monday, the high court agreed to hear a case testing the constitutionality of the Sarbanes-Oxley Act provision creating the Public Company Accounting Oversight Board and to consider newspaper magnate Conrad Black's challenge to his 2007 fraud conviction ... The Court separately agreed to hear Free Enterprise Fund v. Public Company Accounting Oversight Board, a challenge to the accounting board established by the Sarbanes-Oxley Act. (Law.com)
SEC proposes new rules over money managers May 15, 2009
The SEC proposal would subject such firms to an "annual custody control examination" performed by an auditor regulated by the Public Company Accounting Oversight Board. The rule would affect about 370 money managers and force them to hire accountants subject to board inspections. (Boston Globe)
SEC's Schapiro Says Hedge-Fund Registrations Not Enough to Police Industry May 2, 2009
One candidate under consideration was , a member of the Public Company Accounting Oversight Board who drew criticism for supporting rules opposed by banks and business lobbyists. Im very committed to finding a chief accountant who is pro-investor and understands that financial statements are written for investors so they can make rational decisions about how to allocate capital, Schapiro said. (Bloomberg -- US)
SEC Filing Regulation Places Smaller Public Companies Under the Microscope Apr 10, 2009
Protiviti's experts will cover such topics as: -- Implications: How the Public Company Accounting Oversight Board's (PCAOB) guidance to auditors impacts smaller public companies -- Potential internal control issues: A look back at the control issues identified by smaller public companies during their first wave of management assessment reports -- Getting started: Key decision points in the Section 404 compliance process to align management's assessment approach and the auditor's attestation... (PR Newswire)
City Investigates Seattle Fire Department Mar 19, 2009
"The Seattle Fire Department takes these allegations very seriously. Maintaining public trust in the services we provide every day is critical. We value any review that will improve our business practices and how we manage our personnel. We will be reviewing every aspect of our business practices in the Fire Marshal's Office.We recognize the need to address the personnel issues raised in the report. Lieutenant Footer has been placed on paid administrative leave pending further investigation.We... (KIRO TV, WA)
U.S. regulator pursues reversal of years of lax enforcement Feb 23, 2009
Gillan, a long-term ally of investor groups and former general counsel of the California Public Employees' Retirement System, left the Public Company Accounting Oversight Board a year ago after a public feud with Cox ... Schapiro has also been trying to find a prominent role for Charles Niemeier, whose term at the accounting oversight board is expiring. (International Herald Tribune -- Business)
EZchip Set To Expand Into Field's Low End • Fallout From Satyam Case Could Linger Feb 18, 2009
The Public Company Accounting Oversight Board, created as part of the 2002 Sarbanes-Oxley Act, is considering how to make the center a reality, Hyde says. The Center for Audit Quality polled investors and found that more than two-thirds said a national fraud center would give them greater confidence. (Investors Business Daily)
