Smith and Roberson’s Business Law
17th Edition
ISBN: 9781337094757
Author: Richard A. Mann, Barry S. Roberts
Publisher: Cengage Learning
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Chapter 5, Problem 10CP
Summary Introduction
Case summary:
Board P is a government entity which inspects and audits accounting firms acting as an auditor of public companies. Board P is supervised by Securities Exchange Commission (SEC). SEC cannot remove members of board P at will but for a good cause following procedures. The President cannot remove SEC members except for inefficiency, neglect of duty or malfeasance of office. The member of board P challenged this decision because Sarbanes-Oxley Act conferred them executive powers without presidential control and stand to remove dual layers of protection.
To discuss: About the court decision regarding board P’s stand.
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Chapter 5 Solutions
Smith and Roberson’s Business Law
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