SUPREME COURT DECISION - Statement by James S. Turley, Global Chairman and CEO, Ernst & Young

Free Enterprise Fund et al v Public Company Accounting Oversight Board

Jun 28, 2010, 14:58 ET from Ernst & Young

NEW YORK, June 28 /PRNewswire/ -- "Independent regulation of the profession post-Sarbanes Oxley (SOX) has strengthened audit quality and confidence in financial reporting.  We are pleased that the Court's decision provides that the PCAOB's independent oversight can continue without interruption. Although today's ruling found a flaw in a provision within SOX regarding the removal of Board members, the Court held that Sarbanes Oxley remains the law."

SOURCE Ernst & Young