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Sarbanes-Oxley News
Article:
Sarbanes-Oxley costs down 23%
A recent survey indicates that costs are on the decline for companies complying with the Sarbanes-Oxley Act (SOX). SOX compliance costs dropped 23 percent thanks to a reduction in internal hours and fees paid to external sources. SOX compliance costs have been declining since the first year of Sarbanes-Oxley's passage. During this first year, many companies had to do something they'd never done before for Section 404 of Sarbanes-Oxley---document internal controls. This lengthy and costly process produced a great deal of criticism, though survey results indicate that companies are warming up to Sarbanes-Oxley somewhat. Seventy-eight percent (compared to 85 percent in the previous year) now say that the costs of SOX compliance outweigh the benefits. Companies surveyed had at least $75 million in annual revenue and are considered large companies by Sarbanes-Oxley standards.
The Sarbanes-Oxley News Article
About OpenPages
OpenPages is the leading provider of Governance, Compliance and Risk
Management solutions
for Sarbanes-Oxley Compliance, Financial Controls Management, General
Compliance Management, Operational
Risk Management and IT
Governance.
The company’s solutions provide the visibility, decision support and
control to improve accountability, better manage risk, achieve compliance
with numerous regulations, improve operational performance and align strategies
to ensure better results.
Market-leading corporations in financial services, manufacturing, telecommunications,
media/entertainment, retail/consumer, energy, high technology, health services
and life sciences rely on OpenPages to help them achieve sustainable governance,
risk and compliance management -- enabling them to become well-governed businesses.
Founded in 1996, the company is headquartered in Waltham, Massachusetts, with
regional offices throughout North America and international offices in London, Munich, Paris, Tokyo and Hong Kong.
For more information on OpenPages' suite of business governance software solutions
or to register for an online demonstration, please call 781-693-5999 or visit
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Reynolds American Selects OpenPages FCM for Sarbanes-Oxley Compliance.
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