Ana Amato, Protiviti Managing Director, Internal Audit and Financial Advisory
Protiviti began assessing SOX impact on company resources eight years ago through its 2017 Sarbanes-Oxley (SOX) Compliance Survey. Regardless of size, filing status and complexity, the majority of respondents indicated that external audit costs increased by more than 10 percent in 2017 over 2016. We believe the Public Company Accounting Oversight Board’s (PCAOB) push for external audit firms to exact more precise information from companies is playing a role in those upward trending costs.
This article shares highlights from a Protiviti webinar discussing the survey results, specific to the cost and time trends observed this year.