New York (Jan. 27, 2004) -- Seventy-five percent of project leaders from major U.S. companies experienced a significant increase in the level of effort required to comply with Sarbanes-Oxley Section 404 rules, according to a PricewaterhouseCoopers survey.

While 95 percent of executives expect their companies to meet the deadline for Section 404 compliance, about half expect it will be difficult to do so, PwC reported. Respondents also reported that their companies had the most difficulty in preparing for the 404 management assertion in three areas: the level of testing needed; the level of documentation needed; and evaluating and identifying deficiencies. The results were based on the responses of 54 project leaders who attended a Sarbanes-Oxley Conference on Section 404 compliance earlier this month.

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