Quick survey / existing statistics request 2942
soxiness last edited by
Is there any data available that shows (by industry preferably) what department ‘owns’ SOX testing - i.e the SOX group reports up to Corporate Audit, the controller, CFO, Risk Management, Audit Comittee etc. ?
Any help would be greatly appreciated – need this information pretty quickly…
I don’t know about published data; however, I participate in a SOX benchmarking group that includes 25 companies. Here’s where the SOX function resides within the companies in our benchmarking group:%0A44% Accounting Dept. / Controller%0A28% Internal Audit%0A20% Finance / CFO%0A4% Other (legal, risk mgt., etc.)%0A4% Not disclosed
thats interesting …
For this particular benchmark group, all 25 companies are large companies in the Energy industry. Revenues for these companies range mostly between USD5 billion and USD15 billion, although some are larger and some smaller. The average number of dedicated employees in the SOX units of these companies is 7.
Three more questions:
- Are those companies in the USA, Europe?
- How many employees are there in those companies?
- Is there also outsourcing or counsellors in those companies? maybe just for the sos testing?
All are US companies.
Number of employees varies widely. Mostly between 5,000 and 16,000 employees at these companies. Some more and some less.
Some do outsource testing of controls, but not sure how many of the participants outsource.
I am very interesting in all that benchmarking …
Is the sox managed in a separate department in the companies or as a part of a big department or manager office?