Resources for Sarbanes-Oxley (SOX)

Average SOX Compliance Costs $1.7 Million

www.webcpa.com

The total average cost of Sarbanes-Oxley Section 404 compliance reached $1.7 million last year, according to a newly released survey. Financial Executives International polled 185 companies to gauge their experiences with Section 404 internal control audit compliance in fiscal 2007. The organization found that total audit fees for U.S. accelerated filers averaged $3.6 million, a slight increase of 1.8 percent from the previous year.

Companies reported requiring an average of 11,100 people hours internally to comply with Section 404 in 2007, a decrease of 8.6 percent from the previous year. An average of 1,244 external people hours were required to comply with Section 404 in 2007, a decrease of 13.7 percent from the prior year.

View the Resource

Share or bookmarklet this web page at: