Sarbanes Oxley Drives Up Large Companies' Audit Costs by $1.4 Billion

Every organization must deal with compliance issues in its own way.  Some companies are forced to deal with Sarbanes-Oxley with a large outflow of dollars.  This article deals with the increase in audit expenses since the Sarbanes-Oxley Act of 2002.  Insurance industry audit fees have jumped up by seventy percent, while retailers have faced a one hundred and eighty percent increase.  Six hundred and thirty-three Fortune 1000 firms have reportedly paid more than $3.6 billion for their 2004 audits, up from $2.2 billion in 2003.  See the article for more facts and cautions about understanding these numbers.  Contact Prevari for more information on Sarbanes-Oxley and other compliance issues.