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Burden of Sarbanes-Oxley provokes growing disenchantment

Burden of Sarbanes-Oxley provokes growing disenchantment

by Rick Turoczy on June 19, 2006

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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