Posted On: July 27, 2005, 10:36 am CDT

Posted By: Dave

So Pete, I'd first like to say that auidt firms did not create SOX, the SEC did. Audit firms are not trying to screw companies; they're doing their job and following the law. Think about how much extra work is being placed in the auditors lap, compared to employees of the these companies. Not only do they have to audit the financial statements, but they must gain an understanding of and audit the internal controls. And to make matters worse, the deadline for these audits has been pushed 15 days earlier. So, is it more costly for employees or the auditors?