By the Numbers: SOX no bargain in '06

This week's budget brief estimates SOX will account for 15% of IT spending next year.

The Sarbanes-Oxley Act (SOX) might be getting older, but it's not getting cheaper. Compliance with SOX will continue...

to devour a large chunk of IT budgets in 2006 than it has in years past, according to Stamford, Conn.-based Gartner Inc.

Preliminary results from Gartner's 2005 survey of CIOs, IT compliance managers, CFOs and other compliance professionals show that IT financial compliance management spending will account for a median 15% of IT budgets next year. The amount is more than four times the 3.3% of the IT budget professionals dedicated to compliance costs in 2004, the first year of SOX compliance, according to Gartner.

For more information

By the numbers: The new SOX breakdown

By the numbers: Weighty workloads

Audit and finance professionals, who made up roughly one-third of the 326 survey participants, estimated the highest spending: 20%. IT compliance managers estimated 10%. IT professionals estimated 12% -- and CIOs estimated 12.5%. (That means some CIOs might be surprised when their CFO submits a bill.)

Here are two bits of good news: The survey found that most organizations (62%) are funding regulatory compliance as an ongoing program, rather than treating SOX as a project or phase. And about 80% of CIOs said they are members of their organization's compliance or governance council -- as analysts suggest they should be.

Dig Deeper on Risk and compliance strategies and best practices

PRO+

Content

Find more PRO+ content and other member only offers, here.

Start the conversation

Send me notifications when other members comment.

By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

Please create a username to comment.

-ADS BY GOOGLE

SearchCompliance

SearchHealthIT

SearchCloudComputing

SearchMobileComputing

SearchDataCenter

Close