Resources for Sarbanes-Oxley (SOX)

Audit-rate Spurt Tempers Sarbox Savings

www.cfo.com

Corporate spending on compliance with the Sarbanes-Oxley Act's Section 404 fell sharply again last year, and so did overall auditor costs. But a 5-percent spurt in average audit fees cut deep into the savings, according to a new survey from Financial Executives International.

The average cost for Section 404 compliance was $1.7 million during fiscal 2007, the FEI study said. While the group noted that direct comparisons with prior-year costs couldn't be made because of variations in the respondent pool, it suggested that the average compliance cost was around $2.9 million in 2006, and $3.8 million in 2005.

View the Resource

Share or bookmarklet this web page at: