Study: Sarbanes-Oxley Hits Auditor Relations

New research about the cost of complying with the Sarbanes-Oxleys Act shows that the legislation is fostering resentment toward the accounting profession, as well as reducing trust and cooperation, the Financial Times reported Friday.

Research based on public filings and polling confirmed fears that the cost of maintaining a public listing continues to mushroom up 45 percent from last year for large companies due mainly to rising audit fees. But the third annual study of 147 U.S. companies by Chicago law firm Foley & Lardner also shows anger and suspicion toward the independent accountants paid to check their books, the Times reported.

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