Public company audit fees rise 2% in 2010

Average public company audit fee totals $3.3 mln.

The upward pressure on public companies’ audit fees seen in the wake of Sarbanes-Oxley seems to have subsided, with the average audit fees paid by public companies rising 2% in 2010, to $3.3 million, according to a survey by Financial Executives International.

That 2% rise in fees in 2010 followed a 2.4% decline in audit fees in 2009 and a 2.2% rise in 2008, according to FEI data. “It looks as if it’s going up and down,” says Bill Sinnett, director of research at Financial Executives Research Foundation.

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