SOX compliance is an ongoing effort to put technology and policies in place for full compliance.
Over the past year, U.S. companies spent upwards of $15 billion on technology products and professional services in order to adhere to new compliance regulations, according to AMR Research. Spending on Sarbanes-Oxley compliance accounted for about 40 percent of this total, or about $6.5 billion.
SOX compliance represents a massive undertaking of implementing new policies and procedures, but also new technology systems and software. It is not a one-time endeavor or expense like managing the Y2K problem. SOX compliance is an ongoing effort to put technology and policies in place for full compliance.
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