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If auditing of financial statements is required for the protection of public investors, should not all PCAOB members be taken from the investment community that uses audited financial statements? Why or why not?

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  • If auditing of financial statements is required for the protection of public investors, should not all PCAOB members be taken from the investment community that uses audited financial statements? Why or why not?
  • How does the decision in this case impact the validity of the Board and other provisions of the Sarbanes-Oxley Act?

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