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Corporations that embraced Sarbanes-Oxley goals from the start by automating financial reporting and encouraging business-wide cultures of compliance have eliminated material weaknesses and slashed costs more quickly than other companies. “Some cut compliance costs by nearly a third this past year, at the same time they improved the effectiveness of their internal controls over financial reporting,” says Larry Raff, national partner in charge of KPMG’s 404 Institute, which conducted the survey.

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