Resources for Sarbanes-Oxley (SOX)

SOX: Beast Of Burden

hartfordbusiness.com

Five years after its passage, the federal Sarbanes-Oxley Act's costs are still a subject for debate and confusion.

A national study released in August reported that SOX's auditing requirements are still jacking up costs for public companies: the law firm Foley & Lardner said external audit fees increased by 271 percent between 2001 and 2006 for companies with less than $1 billion in revenue.

That external audit costs have gone up dramatically since 2001 isn't a point of contention, but the study also reported a 4 percent jump between 2005 and 2006 insisting that out-of-pocket audit costs are still rising. But local accountants and public companies aren't so sure.

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