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The Hidden Costs of Sarbanes-Oxley: Employee Morale

The Hidden Costs of Sarbanes-Oxley: Employee Morale

by Rick Turoczy on August 13, 2005

Consultants. Rising audit fees. Dozens of new internal auditors. Executive meetings. Revenue-generating projects put on hold. The tangible costs of Sarbanes-Oxley (SOX) compliance hit almost every public company in the United States and will soon reach many more around the globe.

While executives seek to drive down these substantial compliance costs, another expense of SOX compliance continues to rise: employee morale and job dissatisfaction.

Nearly half of financial executives feel the biggest issue related to SOX compliance is the need to maintain the morale of the employees responsible for compliance, according to the 2005 Oversight Systems Financial Executive Report on Sarbanes-Oxley. (Reducing internal and external costs ranks as the second most frequently cited challenge to ongoing compliance.)

The Hidden Costs of Sarbanes-Oxley: Employee Morale

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Stiennon August 17, 2005 at 9:43 pm

I have been meeting with security people all summer. Their mral is very low as they create process documents and bizarre things like an email system to get sign-off from C level execs whenever an individual user’s account access changes.

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