Sarbanes-Oxley Study to Uncover True Cost Of Internal Controls

A new benchmarking study designed to quantify the total cost of internal controls over financial reporting and compliance has been launched by The Hackett Group, a business process advisory firm and an Answerthink company.

The study will be the first of its kind to provide detailed information about the total cost of financial reporting, controls and compliance related to Section 404 of the Sarbanes-Oxley Act of 2002 (Sarbox). It will capture information on process-level activities in more than 14 areas within finance, HR, procurement, IT and sales, and quantify cost gaps between participants' internal control initiatives. The study will also catalogue the practices that correlate with lower costs and provide participants with recommendations to help reduce the cost of their internal controls and compliance efforts.

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