What does Sarbanes-Oxley compliance actually cost?

Question

What does a new information system cost? How long does it take to install? What do IT workers make per hour? What's it take to maintain compliance?
I want figures!!!
Please Help!!!

Answer 1

This a hugely complicated question, because it depends on the size and complexity of the information system you need. An information system can easily cost hundreds of millions of dollars if it requires a great deal of development time, or if overruns or design changes require extra work.

The install time depends on:
* the size and complexity of the system
* how well the organization works with the developers to design the system
* whether the initial development can proceed without a redesign (i.e. - whether they get half way and realize that the initial design was utterly flawed)
* whether the organization changes their mind about what they want
* whether the organization changes their technology requirements in the middle of development.

IT workers can make from $10/hour for help desk to hundreds of dollars per hour for hiring an expert after hours for an emergency. It depends on whether you're hiring internal workers or contractors, their experience, and what skills you are hiring for.

Finally, it's hard to plan for future costs of maintaining compliance, because that would require knowing what changes law makers and/or government oversight commissions would want. It can be as cheap as merely maintaining your system, or as expensive as finding out you need a whole new system.