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Sarbanes-Oxley testing cuts could mean cost cuts

Sarbanes-Oxley testing cuts could mean cost cuts

by Rick Turoczy on June 22, 2006

A technology-based process for reducing the range or “scope” of Sarbanes-Oxley controls could help businesses cut the cost of compliance, which is expected to total $6 billion this year according to AMR Research Inc.

This approach would offer some relief to smaller public companies that were disappointed by last week’s Securities and Exchange Commission (SEC) decision to reject a proposal to exempt them from complying with the audit rules of the Sarbanes-Oxley Act (SOX) of 2002.

John Hagerty, vice president of Boston-based AMR Research, said many companies initially took the costly approach of testing and documenting internal controls for everything to protect themselves from violating Sarbanes-Oxley.

Sarbanes-Oxley testing cuts could mean cost cuts

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