What are the advantages and disadvantages of implementing SOX compliance in non profit organizations-hospitals

Do we advocate implementing SOX Compliance to non profit organizations like hospitals? What are the pros & cons of SOX compliance requirement in non profits like hospitals?

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  • jdkilp
    Lv 7
    1 decade ago
    Favorite Answer

    This is rather simple. The biggest disadvantage is the cost of implementing SOX. It takes a lot of work and a lot of time. The biggest advantage is that it helps ensure financial accountability. Another minor advantage is that after implementation you will have good financial procedures in place that will make things more consistent and easier to train new employees.

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