May It Please The Court: Weblog of legal news and observations, including a quote of the day and daily updates
 Bookstore:       
5/14/2013 - Convicted Killer of Seven Wants Playstation in Jail Cell 4/26/2013 - The Big Print Giveth and the Small Print Taketh Away 3/14/2013 - When Is a Volunteer an Employee Covered by Work Comp? It Depends on the Pixie Dust you Sprinkle. 2/21/2013 - When Is A 10˘ Charge Imposed by the Government Not A Tax? more...
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Quote of the Day - The future, according to some scientists, will be exactly like the past, only far more expensive.
Another Two Cents Worth for Sarbanes-OxleyHere's a shocker: the cost to comply with Sarbanes-Oxley is twice what companies originally expected. And it's not lawyers who are responsible. OK, maybe a little responsible, but not completely.The costs are 62% higher than expected. Factors contributing to the cost increase include a 109 percent rise in internal costs, a 42 percent jump in external costs, and a 40 percent increase in fees charged by external auditors. Information technology costs have added over a million dollars to compliance costs. What can be done? Beyond the normal efforts to keep costs down, not much. Compliance costs. Otherwise, talk to Senator Sarbanes or Congressman Oxley. You can at least give them your two cents worth. |
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