Audit fees are on the rise for large companies, and have been for some time, according to data from public company intelligence provider MyLogIQ. Between 2012 and 2018, the latest year for which data is available, both Russell 3000 and S&P 500 companies experienced a 24% increase in average audit fees. While inflation has occurred over this time, the increase in audit fees has much more to do with other factors, according to a survey by the Financial Education and Research Foundation.
Tag: Audit Fees
Audit Fee Increases Show Signs of Abating
Increases in audit fees for public companies and nonprofits slowed down in 2016, according to a new report, although private companies saw an uptick in their fee increases during the 2016 audit season. The annual Audit Fee Survey Report from Financial Executives International and its Financial Executives Research Foundation, sponsored by Workiva, found public companies reported a… Continue reading Audit Fee Increases Show Signs of Abating