Thanks for asking!
The practice of "a priest trailing the Emperor and whispering that he
is mortal and fallible" is a bit of a misinterpretation. Quoted as
such in several Internet sources over the past couple of years, the
practice would have been quite contrary to the cult of Imperialism
practiced in ancient Rome, which declared the Emperor divine.
However...
After a major victory, Roman Generals, along with their Emperors, were
feted with a cebration known as a Triumph. Triumphs had formal
requirements and were bestowed upon victorious generals by the Roman
Senate.
On the day of Triumph designated by the Senate, "[t]he general was to
ride in a chariot on a path covered with flowers while wearing the
toga picta. In the chariot with the general was a public slave who
whispered in the general's ear, "Remember thou art only a mortal," to
keep the general from thinking that he was godlike."
Roman Triumph as Recognition of Victory
http://www.richeast.org/htwm/Greeks/Romans/triumph/triumph.html
See also:
A Roman Triumph - Wikipedia
http://en.wikipedia.org/wiki/Roman_triumph
Roman Emperor "Julius Cæsar allowed a statue of himself with the
inscription, Deo Invicto (Latin "to the unconquered god") in 44 BC. In
the same year, Cæsar declared himself dictator for life. Julius
Cæsar's nephew and heir, Augustus Cæsar caused a temple to be built in
Rome to Divus Julius, the "divine", or "deified" Julius."
Imperial Cult - Wikipedia
http://en.wikipedia.org/wiki/Imperial_cult
Sarbanes-Oxley Section 404 Compliance
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I've located the following references to corporate spending to comply
with Sarbanes-Oxley provisions.
"The cost to small and mid-sized U.S. public companies of complying
with the Sarbanes-Oxley corporate reform law has continued to rise,
according to a study issued on Tuesday by a law firm.
The average corporate governance cost for companies with annual
revenue of under $1 billion is up 130 percent since Sarbanes-Oxley's
enactment in 2002, Foley & Lardner said."
U.S. Corporate Compliance Costs Keep Rising-Study
http://www.reuters.com/newsArticle.jhtml?type=reutersEdge&storyID=5182617
Foley & Lardner announced "Now in its second year, Foley & Lardner's
leading-edge research sheds light on the financial implications of
Sarbanes-Oxley, showing the cost of being a public company has
continued to increase. This year, the study was expanded to provide a
window into the boardrooms of private organizations, showing how
corporate governance reform is affecting for-profit and non-profit
organizations alike."
The Cost of Being Public in the Era of Sarbanes-Oxley
The Impact of Sarbanes-Oxley on Private Companies
The studies (which offer the figures you're seeking) are available for
download in Adobe Acrobat Reader .PDF format at:
Foley & Lardner: News
http://www.foley.com/news/news_detail.aspx?newsid=709
"Contrary to some predictions that complying with the reforms would be
a one-time event, the cost of audit, legal services, directors'
insurance and other expenses increased 35 percent in 2003 for small
and mid-tier public companies after rising 71 percent in 2002.
Foley & Lardner said the average cost of being public for these
companies was $2.86 million in 2003, up from $2.13 million in 2002 and
$1.24 million prior to Sarbanes-Oxley."
ChicagoBusiness
http://chicagobusiness.com/cgi-bin/news.pl?id=12544
"...48% of companies plan to spend at least $500,000 on Sarbanes-Oxley
compliance, with a quarter pegging the cost at $1 million or more. At
the same time, nearly 40% indicate that Sarbanes-Oxley will have
little or no effect on their preexisting (and perfectly adequate)
internal controls. Only 30% of the CFOs surveyed believe that the
costs justify the benefits."
Sarbanes-Oxley Compliance Costs Far Exceed Congress's Expectations
Abstract of: Sticker Shock: The True Cost of Sarbanes-Oxley Compliance
http://www.bowne.com/newsletters/newsletter.asp?storyID=758
In the Wall Street Journal, quoted by Professor Bainbridge, "[T]he
costs are adding up for companies such as Magma Design Automation
Inc., a chip designer in Santa Clara, Calif., which has seen its legal
and accounting bills soar. Last quarter, Magma blamed the new rules in
shaving a penny off its earnings-per-share -- reporting nine cents
instead of 10 cents. The company, which posted $75 million in revenue
for fiscal 2003, saw its legal fees jump 105% in the first quarter of
2004."
ProfessorBainbridge.com - February 10, 2004
http://www.professorbainbridge.com/2004/02/sox_compliance_.html
"The Johnsson Group, a Chicago consulting firm, estimates
Sarbanes-Oxley will add $3 million to $8 million in annual compliance
costs for Fortune 500 companies."
BusinessPundit.com - Sarbanes-Oxley
http://www.businesspundit.com/archives/000539.html
"The Sarbanes-Oxley Act is designed to reduce corporate conflicts of
interest and fraud, as well as increase investors? confidence in the
stock market. A recent CFO Magazine survey indicated companies will
spend up to $500,000 on Sarbanes-Oxley compliance. And a September
Gartner survey revealed Fortune 500 companies may spend on average up
to $2 million through 2005 to become compliant with the legislation."
ITSPA
http://www.itspa.net/pressroom/press_detail.asp?id=54
Further Resources
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All Things Corporate (Quarterly Newsletter)
The Legacy of Sarbanes-Oxley: Communicating Good Governance
http://atc.netcomsus.com/common/file.php/pg/duck/atc/binaries/62/atc_spring_print.pdf
Forbes: One Year Later, The Impact Of Sarbanes-Oxley
http://www.forbes.com/execpicks/2003/07/22/cz_af_0722sarbanes.html
Search Strategy
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Google Search Terms
"sox compliance costs"
Sarbanes-Oxley law "compliance costs" 2004
roman triumph "memento homo"
I hope you find this information helpful. If you have questions about
the material or links provided, please, feel free to ask for
clarification.
---larre |
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