Sarbanes-Oxley and Corporate Governance Worksheet
Read "Case 15.3 Free Enterprise Fund v. Public Company Accounting Oversight Board" in Ch. 15 of the text(Reed, Pagattaro, Cahoy, Shedd, & Morehead, 2013).
Brief Free Enterprise Fund v. Public Company Accounting Oversight Board,561 US 477 (2010) using the IRAC method from Week Five Electronic Reading. The full case can be found at the following links: https://www.oyez.org/cases/2009/08-861
or https://www.law.cornell.edu/supct/html/08-861.ZS.html.
Conductscholarly research.
Cite to at least three peer-reviewed sources that may include your text.
Complete the worksheet using no more than 350 words for each response.
Follow APA guidelines that include in text citations and a reference page.
Question One:
If auditing of financial statements is required for the protection of public investors, should all Public Company Accounting Oversight Board (PCAOB) members be taken from the investment community that uses audited financial statements? Why or why not? Cite to your references used using APA guidelines.
Question Two:
How does the decision in Free Enterprise Fund v. Public Company Accounting Oversight Board (PCAOB) (2010), affect the validity of the PCAOB and other provisions of the Sarbanes-Oxley Act of 2002? Cite to your references used using APA guidelines.