September 13, 2006
SOX Compliance Costs - Heading Down
Do you subscribe to the various news/keyword alert services? I do. It is no surprise that several of my alerts are based around "Sarbanes-Oxley", "SOX 404" and so on. A trend is becoming clear with respect to the cost of SOX 404 for large accelerated and accelerated filers. I need to firm up my numbers based on recent earnings announcements, but it appears that in the range 6-7 out of 10 filers are saying that SOX 404 costs are dropping. In some cases significantly. As an example, Craftmade International (NASDAQ- CRFT) mentions in their earnings press release today (Click here) that SOX 404 processes are being streamlined, etc etc.
From an overall perspective, this is a natural consequence of the compliance learning curve. Effective internal controls over financial reporting (ICFR) should not be a burden once companies have it integrated into their operations.
To help your firm achieve cost-effective SOX 404 compliance please go to http://www.issuescentral.com/ to learn more about the Compliance Playbook(TM).
If you are a Canadian-based filer, please go to our exclusive Canadian distributor's (Thomson-Carswell) website http://www.compliancepartner.ca/ to learn more about achieving SOX 404 or MI 52-109 compliance with Compliance Partner(TM).
From an overall perspective, this is a natural consequence of the compliance learning curve. Effective internal controls over financial reporting (ICFR) should not be a burden once companies have it integrated into their operations.
To help your firm achieve cost-effective SOX 404 compliance please go to http://www.issuescentral.com/ to learn more about the Compliance Playbook(TM).
If you are a Canadian-based filer, please go to our exclusive Canadian distributor's (Thomson-Carswell) website http://www.compliancepartner.ca/ to learn more about achieving SOX 404 or MI 52-109 compliance with Compliance Partner(TM).
