Fifteen years after passage of the Sarbanes-Oxley Act, companies are still finding the costs of compliance heavy in terms of both dollars and man hours, according to a new report.
The report, from the consulting firm Protiviti, found the average costs depend in some respects on the number of locations at an organization. While companies with between one and three locations pay an average of $657,383 per year on compliance, those with more than 12 locations are paying $1,561,000 annually. The report is based on a survey of 468 chief audit executives, and internal audit and finance leaders and professionals in U.S.-based public companies in a variety of industries.
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