Audit Fees Up Modestly Last Year

Public companies pay 5% more in 2011, while private companies see a 7% increase.

Public companies saw the fees they paid to their outside audit firms rise 5% last year, to an average of $3.9 million, according to an annual survey conducted by Financial Executives Research Foundation. Private companies saw a 7% rise in 2011 audit fees, to an average of $231,200.

The modest increase in public companies’ audit fees in 2011 follows a 2% rise, to $3.3 million, in 2010.

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