Internal auditors can cut Sarbox costs
Internal auditors could help deflate the huge costs suffered by businesses dealing with Sarbanes-Oxley, according to a leading audit figure.
David Richards, president of the US Institute of Internal Auditors, has claimed that internal auditors should work more closely with external auditors when reviewing internal controls procedures.
The assistance could help reduce fees by as much as 50% because external checkers would have less testing to do, according to the Financial Times.
Big Four fees received from clients have rocketed due to compliance work, according to recent reports.