Sarbanes-Oxley costs decrease in second year

The cost of compliance with Sarbanes-Oxley section 404 has decreased for accelerated filers during the second year of adoption, according to the results of a survey by Financial Executives International. The average cost of compliance stood at US$3.8m during 2005, down 16.4% since its first year of introduction in 2004. The reductions were mainly the result of less staff time, which fell by almost 12%, and fewer external costs for consultants which fell by almost 23%.