Staffing woes: the 404 talent war.

The word on the street is "Hold onto your staff any way you can. Employees are being lured away with promises of greener pastures, which translate into workplace flexibility and money. Sounds like an old story, but there's a new twist: Section 404, Sarbanes-Oxley's guidance for managing internal controls, is fueling the fire.

"The war for talent is heating up," says Leslie Murphy, managing partner--client services, Plante & Moran, a regional firm in Southfield, Michigan. "Our professionals are being heavily recruited and receive numerous calls from headhunters seeking experienced CPAs. The ante on referral bonuses has increased as much as $7,000 at some firms." Murphy says that Sarbanes-Oxley, especially the extra requirements imposed by section 404, has put a tremendous talent pressure on CPA firms that audit public companies. In fact some of these firms are turning …