PCAOB not going quietly

The Public Company Accounting Oversight Board has been much maligned recently. The constitutional attacks, the fiasco of AS2, the semi-confusion over AS5 are big problems. But the board is not going quietly. In fact, Charles Niemeier, a member of the board, has warned that rolling back Sarbox might damage the reputation and competitiveness of U.S. markets, which raises a damned-if-you-do or don't debate. Perhaps Sarbox is just right. Now that's a position that won't fly. Obviously, the answer is to tinker in a way that doesn't affect the competitiveness of the capital markets but keeps investor protections strong. That's hard to do, but one could make a case where that is exactly what is happening in the long arduous process.

For more:
- here's a CFO.com article