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Wednesday, February 02, 2005

More on compliance costs

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FinanceTech article: IT Spending for Compliance: From SOX 404 to Comprehensive Compliance

Financial Insights estimates that North American financial services firms spent less than $30 million on external solutions for SOX 404 compliance in 2003. We estimate that this number will double in 2004. ... Spending by North American financial institutions on solutions that can automate SOX 404 processes will grow strongly, at 40 percemt annually, over the next five years, to reach $300 million by 2008.

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