Sarbanes-Oxley costs are soaring, warns survey

As the CFO, exactly how much capital did you put aside to cope with the compliance costs for Section 404 of the Sarbanes-Oxley act? The capital almost certainly isn?t enough. That?s the conclusion from a recent survey by the Financial Executives International (FEI) showing costs for compliance are more than 60% higher than estimates made only six months ago. The total cost of compliance for the average company in FEI?s July survey amounts to $3.14 million; a rise from $1.93 million in the FEI?s January survey.