Organizations may be overlooking the cost of performing control activities.
Although Sarbanes-Oxley (SOX) is not a new regulation, it has continued to evolve over the last 15 years since it was enacted. We’ve seen additional focus areas from the Public Company Accounting Oversight Board (PCAOB) which increased the levels of documentation, and upcoming changes in key accounting standards may require further changes to systems, controls and documentation. Additionally, the uses of technology and data have changed significantly in this time frame – bringing about new considerations such as using intelligent automation to facilitate business processes or compliance activities. And all of this is happening while organizations strive to take costs out of their SOX programs.
KPMG LLP surveyed more than 100 organizations to compile data related to current SOX trends, challenges and trategies. We are pleased to present the results of this survey to provide insights into how your organization’s SOX program compares with both your industry peers and across the total population of respondents.
To read more about the internal controls survey, download the PDF 2017 internal controls survey.