Monday, June 19, 2006

Burden of Sarbanes-Oxley provokes growing disenchantment

While the overall cost of being public in 2005 dropped slightly from the historic levels seen in 2004, the fourth annual study conducted by Foley & Lardner LLP on the costs associated with corporate governance reform found that the predictions that firms would only face one-off increases in costs have not been born out.

But since the enactment of the Sarbanes-Oxley Act, the study calculates that the average cost of compliance for companies with under $1 billion in annual revenue has increased more than $1.8 million to approximately $2.9 million, a 174 per cent overall increase. Unsurprisingly, the survey also revealed growing disenchantment with the regulatory regime.

But since the enactment of the Sarbanes-Oxley Act, the study calculates that the average cost of compliance for companies with under $1 billion in annual revenue has increased more than $1.8 million to approximately $2.9 million, a 174 per cent overall increase. Unsurprisingly, the survey also revealed growing disenchantment with the regulatory regime.

Burden of Sarbanes-Oxley provokes growing disenchantment

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