Section 404 Costs
the actual cost of auditing ICFR is in the range of $1.5 million to $10 million, with an average of $2.6 million for Fortune 1000 companies
Benefits of Section 404 Compliance
The expected benefits of compliance with Section 404 are (1) more investor confidence in financial reports, (2) more accurate and reliable financial reports, (3) more financial fraud prevention and detection, (4) more effective ICFR that improves operating, investing, and financing activities, and (5) lower cost of capital.
Sustainable Section 404 Compliance
companies should shift away from a project approach to a continuous process of integrating sustainable compliance into their corporate governance structure.