FEI survey finds Sarbanes-Oxley costs down 16%
11 Apr 2006
A survey conducted by Financial Executives International has found that, for those companies in their second year of compliance with Section 404 of the US Sarbanes-Oxley Act of 2002, year-two compliance costs down 16% from year-one costs.
Among the other key findings:
- Auditor guidance from the Public Company Accounting Oversight Board still needs clarification.
- Compliance with Section 404 has raised investor confidence, but has done so at a price.
- Auditor fees for all accelerated filers have declined an average of 13%.