Chicago (May 19, 2004) -- Nearly two years after the passage of the landmark Sarbanes-Oxley Act, auditor fees jumped an average of 23 percent, according to a survey by national law firm Foley & Lardner LLP.

Fees paid to outside auditors have continued to increase by double digits year-over-year since the 2002 inception of SOX, with Section 404 compliance cited as one of the primary drivers of audit fee hikes, according to the survey of 115 public companies, “The Cost of Being Public in the Era of Sarbanes-Oxley.”

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