Sarbanes-Oxley Statistics from SOX-online.com


$1.24 billion
(or $91,000 per company) will be the aggregate annual costs of implementing Section 404(a) of the Sarbanes-Oxley Act, according to the SEC's PRA burden estimates.
Source: http://www.sec.gov/rules/final/33-8238.htm#v

5,396,266 is the estimated aggregate annual burden hours of implementing Section 404(a) of the Sarbanes-Oxley Act, according to the SEC's PRA burden estimates. Source: http://www.sec.gov/rules/final/33-8238.htm#P632_164785

76% of added cost for Sarbanes-Oxley compliance will come from additional internal resources, according to Q2 2003 survey from PricewaterhouseCoopers. Source: http://www.srimedia.com/artman/publish/article_646.shtml

1/3 of respondents to a December 2002 Survey by accounting systems integrator BizNet Software said their CEOs do not participate in the financial review of their companies' numbers prior to release. Source: http://www.smartpros.com/x37388.xml

100% of respondents say the Sarbanes-Oxley law is "very confusing," according to an April 2003 Parsons Group survey. Source: http://www.parsonconsulting.com/documents/SO_Survey_Press_Release_FINAL.doc

Just 6% of respondents agree with the statement “Sarbanes-Oxley will ensure that there will be fewer corporate scandals based on accounting practices in the future,” according to an April 2003 Parsons Group survey. Source: http://www.parsonconsulting.com/documents/SO_Survey_Press_Release_FINAL.doc

More than 50% of respondents to a December 2002 Survey by accounting systems integrator BizNet Software said they do NOT have a formal document that identifies all the processes that are undertaken to get financial data into the general ledger for close. Source: http://www.smartpros.com/x37388.xml

880 CFOs and senior IT executives participated in a survey as part of a June 2003 seminar on best practices for Sarbanes-Oxley compliance sponsored by PeopleSoft and Business Finance Magazine. 40% said their companies will need to upgrade current financial processes and systems to comply with Sarbanes-Oxley. 65% of those same participants said their companies will seek to leverage Sarbanes-Oxley initiatives to achieve process improvements that will increase business efficiencies and competitive advantage. Source: http://www.businesswire.com/photowire/pw.071403/231955250.shtml

Only 9% of average performing companies have confidence in their forecasting and reporting outputs, according to a February 2003 sampling of clients of The Hackett Group, an Atlanta-based business consultancy. Source: http://www2.cio.com/metrics/2003/metric504.html

47% of average performing companies use spreadsheets as a budgeting tool instead of sophisticated software that is integrated with the companies other systems, according to a February 2003 sampling of clients of The Hackett Group, an Atlanta-based business consultancy. Source: http://www2.cio.com/metrics/2003/metric504.html

470 (or 72%) of respondents said their companies were NOT using any software products to help ensure their organization’s compliance with Sarbanes-Oxley regulations, according to a May 2003 Global Auditing Information Network (GAIN) flash survey from the Institute of Internal Auditors. Source: http://www.gain2.org/shortsum.htm

85% of companies believe that Sarbanes-Oxley will require changes to their IT infrastructure, according to a AMR Research survey May 2003 CIO Magazine survey. Source: http://www2.cio.com/metrics/2003/metric552.html

51% of respondents said they would use the COSO control model for Sarbanes-Oxley 404 compliance, according to a February 2003 Global Auditing Information Network (GAIN) flash survey from the Institute of Internal Auditors. Source: http://www.gain2.org/soasum.htm

35% of respondents to above survey who have no defined criteria for Sarbanes-Oxley 404 compliance. Source: http://www.gain2.org/soasum.htm