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FEI survey finds Sarbanes-Oxley costs down 16%

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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%.
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