In its 19th annual review of audit and non-audit fee trends for public companies published last month, Audit Analytics reported total and average audit fees in 2020 each declined for the first time since 2010.
Total audit fees fell 1 percent, while average audit fees declined 2.1 percent. The report, utilizing data from Audit Analytics’ audit fees database, attributed the decrease to more audit procedures being done remotely during the Covid-19 pandemic and limited travel costs.
