SOX As Change Agent

Is your glass half-full or half-empty when you assess your SOX spending?

By Mitch Irsfeld Compliance Pipeline

Surprise! Surprise! Section 404 of Sarbanes-Oxley has cost larger companies more than they expected.
According to a recent survey by Financial Executives International, a professional association of CFOs, treasurers, and financial controllers, companies with average revenue of $5 billion spent an average of $4.4 million on section 404 compliance in 2004. In a similar survey fielded in July 2003, companies estimated they would spend an average of $3.1 million in 2004.

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