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Sarbanes-Oxley News & Developments
Can Sarbanes-Oxley Rekindle IT Spending?U.S. companies are expected to spend more than $2.5 billion to comply with new accounting rules required by the Sarbanes-Oxley Act of 2002.
> > Congress passed the Sarbanes-Oxley Act following financial scandals at Enron and WorldCom. The legislation seeks to make companies accounting procedures more transparent to investors and regulators. A large sum of a companys cost to comply will go to IT projects.
Eighty five percent of 60 companies that responded to an AMR Research survey said Sarbanes-Oxley will require changes to their IT and application infrastructure.
Source: CNET News article dated May 12, 2003
Published:2003-05-21
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