Eric Groen, Protiviti Managing Director, and Tom O'Reilly, AuditBoard Director and Internal Audit Practice Leader
Sarbanes-Oxley Act compliance has been a challenging 15-year process for most companies. Over the past 15 years, SOX teams have had to navigate a constantly changing landscape of regulatory pronouncements, enforcement and accounting practices. Adapting to these changes has proven to be costly and time-consuming, and although 2019 SOX survey data shows that companies have begun to make some headway toward reducing compliance costs, SOX hours and control counts continue to increase.
This article examines trends in compliance costs and offers insight into some of the ways companies have found to keep those costs in check.