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Politics : Sioux Nation
DJT 13.90+1.7%3:59 PM EST
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To: stockman_scott who wrote (52208)12/12/2005 8:47:49 AM
From: altair19  Read Replies (2) of 362350
 
S@

<SarbOx is decidedly flawed, most notably because the cost of compliance is too high for small companies.>

A school I consult with used to pay $40k for an annual audit. They use Deloitte Touche. After Sarbanes came out, the fee jumped to $60k - the bummer is that 5013-c's (non profits) are not required to fully implement it, but no one dares not to. It places a huge burden on the business side of the school - the auditors single thread and test a whole series of processes sucking up too much capacity. It now takes three weeks instead of two for the audit. It is a full employment strategy for audit firms and tax attorneys.

Altair19
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