This year, companies will spend a total of $6.1 billion complying with Sarbanes-Oxley (SOX) rules, according to AMR Research. Small businesses are particularly hard hit by the burden of compliance: a recent study by the Small Business Administration found that small businesses spend 46 percent more per employee complying with federal regulations than their counterparts in larger businesses.
Small Business Pipeline recently sat down with John Lerch, chief operating officer at Change Dynamics, a boutique IT consultancy headquartered in Short Hills, New Jersey, that focuses on providing small and medium-size businesses (SMBs) with help on SOX compliance, particularly around Section 404 of the legislation. Here are his answers to some of the more pressing questions SMBs have about SOX compliance.
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