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2016 SOX Compliance Survey

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Infographic shows the highlights of our 2016 Sarbanes-Oxley Compliance survey report - to download the full report, please go to http://www.protiviti.com/SOXsurvey

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2016 SOX Compliance Survey

  1. 1. © 2016 Protiviti Inc. An Equal Opportunity Employer M/F/Disability/Veterans. Protiviti is not licensed or registered as a public accounting firm and does not issue opinions on financial statements or offer attestation services. Looking deeper into SOX compliance processes shows that, for many, time and internal costs are on the rise. But according to Protiviti’s 2016 Sarbanes-Oxley Compliance Survey, there are substantial differences based on company size, industry and SOX experience. And many see significant value in their SOX compliance efforts. View these benchmarks to find out where your organization stands. 1 1. Results based on Sarbanes-Oxley compliance activities for fiscal year 2015. Numbers reflect internal hours and costs and do not include external audit fees. A Closer Look at SOX Compliance Costs, Time and Value Who Spent $2 Million or More? 54% Companies with annual revenues ≥ $20 billion 21% Publicly held companies Who Spent $500,000 or Less? 86% Companies with annual revenues < $100 million 40% Publicly held companies To review detailed results from Protiviti’s 2016 Sarbanes-Oxley Compliance Survey, visit protiviti.com/SOXsurvey. Average annual SOX compliance costs (internal) SOX compliance hours increased SOX compliance hours increased more than 10 percent2 Type of Organization Publicly held $1,113,000 55% 68% Privately held $1,387,000 29% 75% Private, planning IPO $1,442,000 22% 82% Size of Organization $20 billion or greater $2,050,000 46% 61% $10 billion to $19.99 billion $1,382,000 54% 65% $5 billion to $9.99 billion $1,342,000 60% 75% $1 billion to $4.99 billion $1,241,000 39% 79% $500 million to $999.99 million $1,124,000 27% 67% $100 million to $499.99 million $ 474,000 47% 76% Less than $100 million $ 367,000 55% 61% SOX Compliance Year Beyond 2nd year of SOX compliance $1,183,000 45% 63% 2nd year of SOX compliance $1,549,000 11% 71% 1st year of SOX compliance $ 925,000 56% 92% Pre-1st year of SOX compliance $1,020,000 66% 88% SOX Filing Status Large accelerated filer $1,335,000 51% 64% Accelerated filer $ 914,000 53% 70% Nonaccelerated filer $1,219,000 22% 89% 2. Among organizations in which Sarbanes-Oxley compliance hours increased. Generating Value from SOX Compliance3 67% report their internal control over financial reporting has significantly or moderately improved since complying with SOX Section 404(b). leverage SOX compliance efforts to drive continuous improvement of business processes.70% 3. Among publicly held companies.

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