The US Supreme Court has agreed to hear a case which could decide the fate of the 2002 Sarbanes-Oxley Act.

The court said that it would agree to preside over the case in which a US advocacy group is claiming that the Act and its Public Company Accounting Oversight Board are unconstitutional. A Vnunet report notes that the case centres around an accounting firm from Nevada which objected to the board. The case is also being backed by advocacy group Free Enterprise Fund. If the court agrees with the plaintiffs, the ruling could imperil the fate of Sarbanes-Oxley, which was first passed in 2002 in the wake of the Enron scandal. Since its passage, the 'Sox' Act has become one of the major compliance standards which enterprises have been faced with adopting. The law has become a watermark not only for firms doing business in the US and elsewhere, but also for government and regulatory groups looking to establish financial compliance standards.
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