Comprehensive Market Research Completed in Sarbanes-Oxley and Audit Software

Over 850 hours over the past two years was invested to identify, analyze, and map over 145 technology vendors supporting Sarbanes-Oxley compliance, fraud detection, and financial statement audits. Given the niche market for these technologies, there have been limited studies to date, especially to this extent.

From this research, the three co-authors identified numerous best practices, industry trends, and a clear definition of how the various technologies can be integrated for maximum organizational benefit. Aside from these holistic findings, more specific vendor selection criteria and detailed vendor analysis was completed for each of the over 145 vendors.

“Anyone looking to use technology in improving the efficiency of their Sarbanes-Oxley engagements or simply to do more with less given the lack of affordable financial professionals can learn something from this research. I have learned more in the past two years writing this research than in the last 14 years I have spent working in this technology space”, notes Rich Lanza, President of Audit Software Professionals and one of the co-authors.

Mort Goldman, CEO of 408 West and the second co-author, states, “The audit and control industry has left it’s mark on the CIO office more than ever before in the last two years. The extensive time spent to date needs to be automated in order for CIOs to attend to the business”.

“In the past two years, we have seen more interest and associated product releases in audit, anti-fraud, and assurance technology than in the past 10 years combined. This will continue into 2006 and beyond as companies see the value of integrating audit technology into their business”, notes Dean Brooks, President of Ekaros Analytical Inc. and the final co-author of the 2005 Buyer’s Guide to Audit, Anyti-Fraud, and Assurance Software.

To learn more on the research, please click here.