A survey conducted by The Nasdaq Stock Market, Inc. and the American Electronics Association (AeA) has found that public companies anticipate slight cost reductions during the second year of implementing the governance and financial reporting practices required by the Sarbanes-Oxley Act (SOX). Companies expect the costs of implementing SOX 404 - intended to improve internal control over financial reporting - to decline 7.4% this year. Smaller companies, as defined as having market caps less than 120 million, will see virtually no change in their costs.
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