Unconstitutionality and Failure of Sarbanes-Oxley Act, and the PCAOB (USA) and Similar Institutions

Michael I. C. Nwogugu ()

Chapter Chapter 5 in Geopolitical Risk, Sustainability and “Cross-Border Spillovers” in Emerging Markets, Volume II, 2021, pp 301-357 from Springer

Abstract: Abstract Sarbanes Oxley Act (SOX), the PCAOB and the Dodd-Frank Act have pervasive effects on accounting firms, consulting firms and Credit Rating Agencies (CRAs) in the US (i.e. disclosures, professional standards, regulation/compliance, standard-of-care, legal liability, etc.), and also have Global Multiplier Effects across countries and industries via US multinational corporations (MNCs) and foreign companies that do business in the US and/or list their shares/debts on US financial exchanges. This chapter explains why SOX and the PCAOB are partly or wholly unconstitutional. The theories in this chapter can be extended to similar statutes in other countries.

Date: 2021
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DOI: 10.1007/978-3-030-71419-2_5

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