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Putting a price on Sarbox compliance

Putting a price on Sarbox compliance

Source: The Independent Community Bankers of America

The Independent Community Bankers of America (ICBA) estimates that the average US community bank will spend more than $200,000 and devote over 2000 internal staff hours to comply with Section 404 of the Sarbanes-Oxley Act of 2002.

The figures come from an ICBA survey of 91 publicly-held community banks on the costs of complying with Sarbox regulations.

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