ERC Chairman Comments on U.S. Supreme Court Decision on PCAOB

The chairman of the Ethics Resource Center, former Rep, Michael Oxley, issued the following joint statement on June 28 with the co-sponsor of the Sarbanes-Oxley Act of 2002, former Senator Paul Sarbanes. Sarbanes-Oxley created the Public Company Accounting Oversight Board.

"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.