Large U.S. companies spent less than expected to comply with the Sarbanes-Oxley corporate governance law last year, according to a study commissioned by the four largest accounting firms.
The study released Tuesday by CRA International, an economic consulting firm, found that the average costs for the largest publicly traded companies dropped 44 percent in 2005, to $4.8 million. The consulting firm predicted in December the fall-off would be 42 percent.
The biggest reason for the decline was the "learning curve effect," said Gregory Bell, a group vice president at CRA. "This is the second year with Sarbanes-Oxley, so there were significant efficiencies from doing it the second time."
See full Article.
Also see CRA International Press Release, in pdf format.
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