Bill Gradison, a member of the Public Company Accounting Oversight Board since its creation in 2003 under the landmark Sarbanes-Oxley Act, is as eager as everybody else to hear whether the U.S. Supreme Court believes he should have a job.
On Monday morning, the court handed down its decision in Beckstead vs. PCAOB, where a small Nevada auditing firm has challenged the constitutionality of the PCAOB’s structure. At issue was whether PCAOB board members should be nominated by the president with Senate approval, or can be appointed by the Securities and Exchange Commission as is the case now. The court ...