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Topic: Business
Number of pages / Number of words: 3 / 820
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At $2.2 million, the average audit fee was considerably higher than SEC estimates. Audit fee increases are only part of the effect SOX compliance has had on publicly traded companies, however, not all increases in audit fees are attributable to SOX, according to the UNO professors. AMR Research Inc. in Boston estimates that the average company will blow through about $1 million in Sarbanes-Oxley costs per $1 billion in revenue, just to do what analyst John Hagerty calls "a document exercise" that organizes...


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AMR Research Inc. in Boston estimates that the average company will blow through about $1 million in Sarbanes-Oxley costs per $1 billion in revenue, just to do what analyst John Hagerty calls "a document exercise" that organizes.

In response to concerns raised at a Securities and Exchange Commission roundtable last month on implementing internal control reporting provisions, the Public Company Accounting Oversight Board has published additional guidance for auditors on how to implement its standard related to the audits of internal controls over financial reporting...


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