Average annual cost of SOX compliance 2342
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Just wanted to know if anyone had any info with regards to the average cost of compliance software and auditing fees out there. I lost an article that contained that data and so I am hoping that someone can assist me on the above matter. My article had stated that Sox compliance was at least USD5.5 billion in 2004 and increased to over USD6 billion the following years.
Thank you.
Scott
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Hi - While this is difficult to estimate, below are some related links that may help in this research
Please paste to browser, as direct links aren’t permitted in forums
http-and-#58;//www.google.com/search?hl=en-and-q=sarbanes-oxley cost of compliance
http-and-#58;//en.wikipedia.org/wiki/Sarbanes-Oxley_Act
http-and-#58;//bigpicture.typepad.com/comments/2005/06/how_much_does_s.html
http-and-#58;//www.theregister.co.uk/2005/01/11/europeans_slam_sarbox/
From Wikipedia link above:
According to a survey by Kron/Ferry International, Sarbanes-Oxley cost Fortune 500 companies an average of USD5.1 million in compliance expenses in 2004 …
From bigpicture link above:
There’s a meme circulating now amongst the sloping forehead crowd that Sarbanes-Oxley costs exceed USD1.4 trillion dollars. The way that was calculated was the drop in stock market market capitilization during July 2002 when the legislation was passed.
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Hi,
For more specific estimations, you may also want to try out a website that I came across that deals with compliance audit software.
Edited by moderator to remove direct link to external site, please copy link and paste to browser instead. Direct links are not permitted in the forums
http-and-#58;//www.jmesoftware.com
Erica Rowlet