U.S. Chamber of Commerce - Cost of SOX 404 Survey

Cost of SOX 404 Survey

U.S. Chamberof Commerce Center for Capital Markets Competitiveness
November 8, 2007

Prepared by the U.S. Chamber of Commerce Research and Analysis Center

Introduction

In October 2007, the U.S. Chamber’s Center for Capital Markets Competitiveness (CCMC) with the assistance of the U.S. Chamber’s Research and Analysis Center (RAC) conducted an on-line survey to compile data on the projected cost of Sarbanes-Oxley (SOX) Section 404 and its impact on small businesses. Section 404 requires management and the external auditor to report on the adequacy of the company's internal control over financial reporting. This report provides an overview of those survey results.