SOX Guidance Has Helped Decrease Compliance Burden

Thanks to SOX section 404 rules and guidance issued by the PCAOB and the SEC in May 2007, many internal audit committees are finding time for other responsibilities.

According to Moving Internal Audit Back into Balance, a Protiviti survey of 321 internal audit professionals, four in 10 internal audit departments decreased the time devoted to SOX compliance since the new standard and guidance were announced.

As a result, these departments have resumed more traditional internal audit responsibilities, including regulatory compliance and advising senior management and the board’s audit committee.

Source: Protiviti, www.protiviti.com/go/rebalancing3.