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Sarbanes-Oxley News & Developments
Hard Numbers on Sarbanes ExpensesSarbanes-Oxley shows a sharp rise in audit expenses.
> > The auditing bill could soar more as the remaining provisions of the landmark Sarbanes-Oxley legislation are phased in during 2004 and 2005. "Certainly when Section 404 [of Sarbanes-Oxley] kicks in, you will be seeing a lot more costs," said Trent Gazzaway, national director of corporate governance for audit firm Grant Thornton.
"Some of the costs of just getting ready for Sarbanes-Oxley drove up costs anywhere from 30% to 100%" in 2003, said Michael Baker, managing partner at the Deloitte Charlotte office. Baker added that in 2004, "you can look for another similar amount."
Source: CFO
Published:2004-03-25
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