Public company audit fees remained virtually unchanged in 2018, according to the latest annual study by Audit Analytics.

In the newest installment of its annual analysis of audit and non-audit fees, Audit Analytics reports public companies paid an average of $511 in audit fees for every $1 million in revenue. That is the same average amount as in 2017, but it represents a decrease from $537 in 2016 and $515 in 2015.

Maria L. Murphy, CPA, is a regular contributor to Compliance Week. She is a senior content management analyst, accounting and auditing products, CCH tax and accounting North America for Wolters Kluwer....