The cost of Sarbanes-Oxley compliance for US-domiciled European companies is an issue CFOs need to address; and address soon. 2005 is fast approaching, and delays will prove expensive.
New research from HandySoft has revealed that European companies listed on US stock exchanges are facing a 35% increase in audit fees as a result of mandatory compliance with the Sarbanes Oxley Act (SOX). This equates to an additional annual burden of some €370 million per year, or €1.35 million per company per year.
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