SOX internal control costs decline
BOSTON – The cost of implementing the Section 404 internal control requirements of Sarbanes-Oxley (SOX) declined significantly in 2005, according to a study commissioned by the four largest accounting firms.
The study, released in mid-April by CRA International, an economic consulting firm based in Boston, found that for larger public companies (with over $700 million in market capitalisation), total Section 404 average costs fell from $8.5 million in 2004 to $4.8 million in 2005, representing a 44% decline, as opposed to the predicted 42%.
For smaller public companies (between $75 million and $700
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