As companies struggle to adhere to the requirements of the Sarbanes-Oxley Act of 2002 to make corporate governance more transparent, a recent survey by Gartner, Inc. showed many companies have not budgeted the proper resources to achieve this compliance.
Approximately 85 percent of respondents said they do not have an official budget for Sarbanes-Oxley compliance. Estimates of expected Sarbanes-Oxley spending in 2004 vary widely, from $15,000 to $4 million, including outside consulting, internal and external auditing, personnel, insurance and software.
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