Audit fees are up, but if you consider the increase in revenues plus inflation, the fees appear not to have gone up dramatically, according to a recent study published in June 2004 by Glass Lewis, an analytical research firm.
In its report, Glass Lewis concluded that “the amounts paid to auditors for the audits of financial statements have increased but not significantly more than the growth in the operations of the companies themselves,” and added, “The numbers disclosed by companies do not support some of the whining about audit fees discussed in the press.”
