SOX compliance costs rising thanks to revenue recognition standard
Aug 14, 2018
On August 14, 2018, Accounting Today published an article on how compliance hours and costs for the Sarbanes-Oxley Act have risen in the past year for many companies, in part due to the new revenue recognition standard, according to a new survey.
The survey, by the consulting firm Protiviti, found that SOX compliance costs and hours have climbed 10 percent or more for a majority of companies. For large accelerated filers, for example, average SOX compliance costs rose from $1.1 million to over $1.3 million this year. For accelerated filers, the average costs increased from $802,000 last year to $997,000 this year, while for emerging growth companies they went from $1.2 million to nearly $1.4 million this year.
Review the full article on Accounting Today's website.
