FEI Releases Results of Seventh Sarbanes-Oxley Section 404 Cost-Benefit Survey
By Edith Orenstein, FEI Financial Reporting Blog - Earlier today (April 30) Financial Executives International (FEI) released its seventh in a series of surveys of the costs and benefits of internal control reporting (management’s report on internal control, and the related auditor’s attestion on internal control) under Sarbanes-Oxley Section 404. Overall costs (internal and external) to comply with Section 404 were down, and the portion of the audit fee attributable to the internal control attestation was down, but total audit fees were up slightly. Perceived benefits of 404 reporting also rose, although there is still some split on views. Read the full story here.