Small public firms face less-strict requirements than non-public companies do, study finds
Complying with the Sarbanes-Oxley Act costs an average of $78,474 for smaller public companies, less than government projections and less than 1% of the companies’ average revenue, according to a report released Wednesday.
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The U.S. Securities and Exchange Commission had predicted compliance costs of $91,000 for smaller public companies, technically those with less than $75 million in market capitalization. "Since its enactment, complaints of spiraling compliance costs have flooded the halls of Congress," states the report, written by Bob Benoit of Lord & Benoit in Massachusetts, a research and consulting firm that focuses on SOX compliance for smaller public companies.
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