|
Much has been said about the time, resources and costs that have been expended by companies worldwide in achieving Year One
compliance with the Sarbanes-Oxley Act of 2002. Indeed, estimates of the cost in terms of implementation and increase in annual
audit fees vary significantly depending upon who you believe. It is true to say that not only were Year One charges significant,
but annual audit fees and the new internal cost base for maintaining compliance is significantly higher in the ASE (after SOX era).
It is also very clear that this level of expenditure on compliance with only one regulatory/legislative framework is unsustainable, particularly because the amount of regulation that impacts upon multi-national businesses is increasing, with many other areas
across the globe adopting their own versions of SOX; albeit slightly different in focus.
It is important therefore, that organisations globally consider how best to leverage benefit from the initial compliance investments made, reduce the annual audit burden and use the experience from their projects to drive continuous improvement into their compliant businesses..
To view the full white paper on this and other related subjects please visit the SECOR Library.
About SECOR:
With our expertise in the fields of revenue assurance, business process optimisation, BPM tools, and business intelligence, SECOR is working with our clients on many
of the challenges they face in complying with the Sarbanes-Oxley Act.
|
