With the rising cost of audit fees, companies need to find ways to cut costs. We recently had the opportunity to interview Leena Roselli, Senior Manager of Research at Financial Executives Research Foundation (FERF). And these are some of the findings she shared with us from their most recent comprehensive study.
The Sarbanes Oxley Act of 2002 called for major regulations that shifted the way companies did business and how auditors audited. This was a key driver in raising the cost of audit fees. In fact, FERF began analyzing these compliance costs, and found that they were embedded into a company’s overall audit fees. ..
"Sonia and her team at Aviva Spectrum were a critical success factor in developing and implementing key internal controls to enable us to successfully implement Timberline at UCP. The teams pre-implemnentation efforts were invaluable to us."
"Working with Sonia and Aviva was productive and was a successful partnership for our organization which ultimalely helped us to reduce internal and external costs"
"Sonia Luna - think entrepreneur with a superior understanding of governance, risk and control. Her secret? Years of working with authoritative standard setting bodies such as COSO."
"Aviva provided us with valuable support and useful recommendation while we documented our internal controls. "