Wednesday, November 17, 2004 The Sarbanes-Oxley Act (SOX) is perhaps familiar to readers mostly for its detrimental effect on the clarity of MR industry league tables. However, the cost to others is rather greater: US companies will spend an estimated $5.8 billion on meeting its requirements in 2005, according to AMR Research.The initial deadline for public companies to comply with Section 404 of the Act was yesterday, November 15. Section 404 demands that companies document, control, and secure business processes that directly and materially contribute to reported financial results. According to Vice President of Research John Hagerty, it was initially thought that Sarbanes-Oxley spending would be a one-time expenditure, but in fact 36% of companies plan to increase spending, 52% will maintain current levels and 12% will decrease SOX spending. Cost of Sarbanes-Oxley Previous articles The Sarbanes Raiders
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