SOX requirements 'too consuming'
NEW YORK – The internal control requirements of the Sarbanes-Oxley Act are consuming too much of internal auditors' time, at the expense of other operational risks, according to participants in a recent conference in New York.
At the Institute for Internal Auditors (IIA) conference, New Challenges, New solutions, participants expressed concern that the audit function was made to disproportionately focus on the demands of the Sarbanes-Oxley Act. Some auditors said this is forcing them to move away from the risk-based audit plans they are supposed to follow.
"The truth is that management is depending too much on the
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