Driven in part by costs associated with Sarbanes-Oxley compliance, Fortune 1000 firms have paid more than $3.6 billion for their 2004 audits, up from $2.2 billion in 2003, according to a report by accounting professors at the University of Nebraska-Omaha.
As of April 27, an analysis of 633 Fortune 1000 companies showed that their auditing costs have increased by $1.4 billion collectively so far, UNO College of Business Administration accounting faculty members Susan Eldridge and Burch Kealey reported.
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