Auditing Standard No. 2 makes clear that the increased cost of compliance associated with SOX requirements was not a one-time event. As a result of Auditing Standard No. 2, public companies can expect their auditing fees to continue increasing as auditors assimilate to this new competency. Public companies also can expect to continue engaging additional accounting and consulting firms for internal control-related services and other services traditionally provided by the company's auditors.
Did you find this white paper useful?
25 out of 50 users found this white paper useful
Related white papers
Web Content Management Powers Highly Successful Partner, Customer, and Employee Portals
McDATA is the expert provider of hardware, software, and services that enable partners and customers around the world. Prior to leaving EMC, McDATA focused exclusively on engineering and "OEMing" its...
Sarbanes-Oxley: Just When You Thought It Was Over the Road Ahead
Great - the auditors have left - but it's not over yet. Sarbanes-Oxley, unlike Y2K, is an ongoing challenge. You have built your processes and refined your business, but it...
EDS Case Study: Leading Energy Company
The client was leading US Energy Company. It needed to maintain its quality of service, control escalating IT costs and activate solid internal controls to insulate the company from financial...
PCAOB Auditing Standard No. 2: Understanding the Impact
This webcast discusses management's responsibilities, assessment process, and documentation, relationship to financial statement audits, audit of ICOFR considerations and internal control deficiencies.
"Compliance Trends: Evolving Audit Expectations and Best Practices"
After the grueling exercise of preparing for the initial audits under the Sarbanes-Oxley Act, one can expect refinements in enforcement. As best practices emerge - along with a few failures...
BizRights Enables Collaboration and Enhanced Control
Approva's client, a global manufacturer and distributor of a taste-tempting array of food products, this publicly traded company is subject to the regulations spawned by the Sarbanes-Oxley Act of 2002,...
Client Case Study - Optimation Technology
Optimation Technology is an engineering, automation and information systems firm on the rise. For Optimation, a key requirement for its ongoing success has been having real-time Web access to its...
