The upward pressure on public companies' audit fees seen in thewake of Sarbanes-Oxley seems to have subsided, with the averageaudit fees paid by public companies rising 2% in 2010, to $3.3million, according to a survey by Financial ExecutivesInternational.
That 2% rise in fees in 2010 followed a 2.4% decline in auditfees in 2009 and a 2.2% rise in 2008, according to FEI data. “Itlooks as if it's going up and down,” says Bill Sinnett, director ofresearch at Financial Executives Research Foundation.
The FEI survey shows private companies paid average audit feesof $222,300 last year, little changed from what they paid in 2009.FEI surveyed 98 public companies and 124 private companies.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
