Florham Park, N.J. (Feb. 12, 2004) -- The costs of first-year compliance with Section 404 of Sarbanes-Oxley could exceed $4.6 million for the largest U.S. companies, according to a survey by Financial Executives International.
The added costs are driven by a projected investment of 35,000 hours of internal manpower, $1.3 million in spending on external consulting and software, and additional audit fees of $1.5 million (a jump of 35 percent), FEI reported.
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