Chicago (June 9, 2004) -- Large companies and small companies appear to be split on their approach to compliance with Sarbanes-Oxley Section 404, according to a survey of financial professionals by management consultancy Parson Consulting.
Larger companies --defined as those with market capitalization of $1 billion or more -- rely more on software applications than smaller companies when preparing compliance materials to meet federal Sarbanes-Oxley Section 404 deadlines. Parsons defines smaller companies as those with market capitalizations between $75 million and $1 billion. One-third of larger companies view software as critical to 404 compliance, compared to 21 percent of small companies. Nearly the same number of smaller companies (32 percent) say they don’t plan to use software applications, compared to 11 percent of larger companies, according to the survey of about 100 professionals who hold senior finance/corporate governance positions.
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