Resources for Sarbanes-Oxley (SOX)

Five years after SOX, business as usual for auditors

www.canadianunderwriter.ca

For the first time since the U.S. Sarbanes-Oxley Act [SOX] went into effect in 2002, a growing number of internal audit departments are returning to business as usual, according to a new survey by Protiviti Inc.
Protiviti is a provider of independent risk consulting and internal audit services. Its survey was conducted from October 2006 through January 2007, when the first wave of companies reached Year 3 of Sarbanes-Oxley compliance.
“Having been consumed with Sarbanes-Oxley compliance projects for the past four years, 24% of companies report their internal audit departments have achieved ‘rebalancing’ — a renewed focus on their traditional responsibilities that is balanced with compliance activities,” the Protiviti survey found. “This number is more than double the response (10%) from a similar survey conducted in 2005 by Protiviti.”
The results of Protiviti's second internal audit rebalancing study are detailed in its report, "Moving Internal Audit Back Into Balance."

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