Even though the Public Company Accounting Oversight Board technically lost a Supreme Court ruling Monday, the board is likely to emerge stronger now that the element of uncertainty has been removed.

Despite the challenge to the PCAOB's inherent constitutionality, as well as the Sarbanes-Oxley Act that first established the board back in 2002, the PCAOB will probably find itself come out relatively unscathed from the high court's decision. In the 5-4 decision, the majority on the court found fault only with the way in which board members can be removed. Now, instead of the Securities and Exchange Commission being able to remove PCAOB members only for cause, just as SEC commissioners can only be removed for cause by the President, PCAOB board members now can be removed at will by the SEC commissioners.

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