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Topic: Business
Number of pages / Number of words: 6 / 1589
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Consequently, auditors did not take into account the limited resources for smaller businesses.

As a result, the one-size-fits-all approach cost SMEs a disproportionately higher amount than larger organizations in order to comply. To put this in perspective, a large company generally pays 0.1% of annual revenue to comply with SOX, while a smaller company has traditionally about 1%...


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To put this in perspective, a large company generally pays 0.1% of annual revenue to comply with SOX, while a smaller company has traditionally about 1%.

The new SME standard will also discourage auditors from conducting multiple tests of the same controls, instead relying on prior years’ audits for their assessments...


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