Last week, The Manufacturers Alliance/MAPI released a survey update on Sarbanes-Oxley that measures progress companies are making with Section 404 of the Sarbanes-Oxley Act of 2002 (SOX) and the impact of Section 404 on external auditor fees. The latest survey results reveal higher than projected 2004 fees due to costly SOX 404 compliance. Additionally audit committees are highly dissatisfied with increased cost. The report concludes that there is some expectation of modest fee reductions in 2005.
For information on the survey visit: https://www.mapi.net/html/abstract.cfm?PubID=284
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