What was the primary issue in the case of Free Enterprise Fund vs. Public Company Accounting Oversight Board?

The primary issue in the case of Free Enterprise Fund vs. Public Company Accounting Oversight Board centered on allegations of constitutional violations regarding the creation of the Public Company Accounting Oversight Board (PCAOB). The case challenged the authority and structure of the PCAOB, arguing that it was unconstitutional in its composition and the manner in which it exerted power.

The case highlighted concerns regarding the appointment of PCAOB members and their removal protections, which some argued violated the Appointments Clause of the Constitution. The plaintiffs contended that the PCAOB was insulated from presidential control, thereby undermining the separation of powers principle enshrined in the U.S. Constitution. This case ultimately raised critical questions about the balance of power within federal agencies and the legitimate scope of their authority.

The other options, while related to the context of public company operations and auditing, do not accurately capture the core constitutional issues that were presented in the case involving the PCAOB.