Joint Statement From Former Chairmen Paul S. Sarbanes and Michael G. Oxley Regarding today's U.S. Supreme Court decision in Free Enterprise Fund and Beckstead and Watts, LLP v. Public Company Accounting Oversight Board and United States of America
WASHINGTON, June 28 /PRNewswire-USNewswire/ -- The PCAOB provides essential protections to the more than half of American households that invest savings in securities. It ensures the integrity of public company audits and, thereby, the accuracy of financial reporting. The PCAOB enjoys widespread support from investors as well as from the accounting profession. The decision from the Supreme Court adjusts the law in a way that allows the PCAOB to continue to ensure the integrity of public company audits. The Board's essential protections of American investors will continue.
Michael G. Oxley is now Of Counsel with Baker Hostetler, LLP, in Washington.
SOURCE Former Chairmen Paul S. Sarbanes and Michael G. Oxley