{"id":1657,"date":"2006-05-11T00:00:00","date_gmt":"2006-05-11T00:00:00","guid":{"rendered":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/2006\/05\/11\/execs-tell-regulators-sarbanes-oxley-costs-exceed-benefits\/"},"modified":"2021-12-30T11:39:45","modified_gmt":"2021-12-30T11:39:45","slug":"execs-tell-regulators-sarbanes-oxley-costs-exceed-benefits","status":"publish","type":"post","link":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/2006\/05\/11\/execs-tell-regulators-sarbanes-oxley-costs-exceed-benefits\/","title":{"rendered":"Execs tell regulators Sarbanes-Oxley costs exceed benefits"},"content":{"rendered":"<p>Two years of compliance with the Sarbanes-Oxley Act (SOX) have shored up corporate accounting practices &#8211; but with lopsided costs compared to benefits gained.  Colleen Cunningham, president and CEO of Financial Executives International, said companies with two years of compliance under their belts reported that costs dropped an average of 16%.   That said, 85% of respondents to FEI&#8217;s latest survey believe the costs of SOX compliance still outweigh the benefits.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The SEC and PCAOB arranged the roundtable to solicit feedback about Section 404 of the legislation, which requires companies to attest to the effectiveness of internal controls put in place to protect financial reporting systems and processes.  &#8220;In practice it hasn&#8217;t always worked out that way,&#8221; he acknowledged.<\/p>\n<p>Over the course of five panel discussions, participants shared their experiences with the internal control reporting requirements.<\/p>\n<p>http:\/\/www.networkworld.com\/news\/2006\/051106-sox-costs.html<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-1657","post","type-post","status-publish","format-standard","hentry","category-regulations"],"_links":{"self":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/1657","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/comments?post=1657"}],"version-history":[{"count":1,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/1657\/revisions"}],"predecessor-version":[{"id":4144,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/1657\/revisions\/4144"}],"wp:attachment":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/media?parent=1657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/categories?post=1657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/tags?post=1657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}