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Tech aids SOX compliance.

Publication: Business Travel News
Publication Date: 18-APR-05 		Format: Online - approximately 1001 words
Delivery: Immediate Online Access

Article Excerpt
With the first Sarbanes-Oxley filing finally complete, travel managers and suppliers are seeking new ways of using technology to streamline the audit process, increase corporate governance and drive out cost.

According to a survey released last month by the Business Roundtable, an association of CEOs from 160 U.S.-based companies, 47 percent of respondents said the cost of achieving Sarbanes-Oxley compliance topped $10 million last year, while just under one-third had compliance-related expenses totaling between $6 million and $10 million. Such expenses included technology investments and the hiring of auditors.

While most of these costs were not travel-specific, John Ohaver, vice president of Connecticut-based consultancy Management Alternatives, said that travel departments increasingly will feel the impact of compliance-related investments.

"The trickle down is now coming to the travel department," he said. "Companies had to be compliant with Section 404 for the annual year that ended Dec. 31, 2004. For the...

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