Section 404 compliance cost corporate America less in Year 3 of its adoption, than in each of the first two years, according to a recent survey.
According to Financial Executives International’s sixth Sarbanes-Oxley compliance survey, of 200 responding companies (with average revenues of $6.8 billion), total average cost for Section 404 compliance was $2.9 million during fiscal year 2006, a 23 percent decrease from 2005 totals.
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