What Price SOX? | SOX Compliance Costs Still Not Quantified Yet

We've long suspected Sarbanes-Oxley is a black hole for IT staffing and dollars--and now there's proof. A study released by financial consultancy A.R.C. Morgan says that most companies have no idea how much they will spend on SOX compliance.

Companies--and their IT departments--have been complaining for more than a year about the sucking sound created by SOX Section 404, which is supposed to reduce book-cooking by requiring them to make systems and data more auditable. The A.R.C. Morgan report suggests there's good cause for these complaints, though there's an alarming lack of data about the associated costs. The report expresses surprise at how few companies with annual sales greater than $10 billion have put a cost on SOX in their SEC filings.

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