Average large-cap company spent $4.4 mln on Sarbanes-Oxley in 2004

The survey of companies with average revenues of $5 bln, showed that spending for SarBox compliance averaged $4.4 mln in 2004. That’s higher than the average $3.1 mln companies estimated that they would spend in 2004 in a similar survey conducted in July 2004. Expenditures for external services such as consulting averaged $1.7 mln in 2004, up from an expected $1 mln in the July survey, while auditing costs averaged $1.3 mln, compared with the $820,000 expected in July.