Sarbanes-Oxley: The costly road to compliance
Some companies are looking to get a better return on their investment in Sarbanes-Oxley compliance by making it part of a larger exercise that looks at firm-wide processes and controls, and not just those surrounding financial reporting, writes Clive Davidson
Compliance with the Sarbanes-Oxley Act, the US corporate governance legislation introduced in the wake of Enron and other corporate fiascos, is proving a major undertaking for most companies, with some expecting to spend $100 million or more in meeting the requirements.
Section 404 of the Act, which requires the documentation of internal controls over financial reporting, is proving particularly
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