All Audit Fees articles
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Blog post
Study: Audit costs on rise again in 2017
The latest analysis of audit and non-audit fees shows audit fees paid by public companies crept upward in 2017 for the fifth straight year.
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Blog post
New GAAP rules drive audit fee increases, poll says
New accounting standards and M&A activity are driving modest increases in audit fees for public companies, according to a new FERF survey.
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Blog post
Rite Aid shareholders vote against Deloitte as auditor
A sizable chunk of Rite Aid’s shareholders has told the board it would like to dismiss Deloitte and hire a new audit firm.
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Blog post
SOX-related audit costs rise again in 2017, poll says
Half of the largest public companies saw SOX-related audit costs rise in 2017, driven by regulatory pressure, M&A activity, and new accounting rules.
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Blog post
Study establishes link between fee pressure and audit quality
New academic research suggests there is indeed a correlation between pressure on audit fees and audit quality — and it’s not pretty.
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FERF finds more evidence of audit cost creep in 2016
Another new study confirms public company audit costs inched upward in 2016, albeit by a smaller amount than in 2015.
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Blog post
Audit fees creep higher in 2016, study shows
Public company audit fees inched upward again in 2016, based on the latest data available from Audit Analytics.
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Audit committees advance disclosure in 2017 yet again
Audit committees took it up another notch in the past year in their voluntarily disclosures to investors, according to the latest analysis.
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Audit tensions often precede control weaknesses, study says
If tensions are rising between a given company and its external auditor, there’s a greater chance the company will be reporting internal control weaknesses.
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Blog post
Companies get proactive to control audit costs, report says
Companies are mitigating increases in audit fees, and in some cases are even reducing audit costs, using some key tactics outlined in a new report. More from Tammy Whitehouse.
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Article
Audit cost data hint at improvements in internal control
The newest data on audit costs suggest public companies, or at least the largest ones, might be getting a handle on internal control over financial reporting. Tammy Whitehouse reports.
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Blog post
Companies take action against rising audit costs, FERF study says
Tammy Whitehouse has the results of a new study that shows audit cost increases for public companies are outpacing inflation, but the largest companies are taking measures to keep cost increases in check.
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Blog post
Seven Habits of Effective Audit Fee Management
Corporate audit fees are rising again. This is probably not news to you. Still, research of why audit fees are rising—and why some companies can continue robust business activity without painfully higher fees—reveals certain practices that do keep fees relatively reasonable. This week, columnist Robert Herz discusses those seven steps ...
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Blog post
More Data Show Audit Fees Rising for Public Companies
A recent study from Financial Executives International of 7,000 public companies revealed that 20.6 percent reported ineffective internal controls over financial reporting, and the median audit fee increase for those companies was 3 percentage points higher than for public companies as a whole. The companies cited two primary reasons for ...
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Article
SEC Accounting Enforcement: Bigger and Badder
Image: Perhaps some public companies haven’t yet taken to heart the (numerous) signals from regulators to button up their internal controls. A recent legal analysis of accounting-related enforcement actions from the SEC should do the trick. Sanctions are happening more frequently, and penalties are bigger. “The SEC is effectively ...
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Article
Audit Fees Are Up; What’s Interesting Is Why
Audit fees are rising—which you probably already knew—but the latest data on audit fees raises questions about what’s behind that increase. PCAOB audit firm inspections are part of it; but many big jumps in fees seem due to external events like a merger more than vigorous audits for SOX compliance, ...
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Blog post
Audit Fee Data Reveals New Departure from Non-Audit Services
According to a recent Audit Analytics study of fees paid in 2014 by 2,300 accelerated filers, 80.3 percent were focused on the integrated financial statement internal control audit; fees for non-audit services dipped to 19.7 percent of the total bill from the audit firm, a drop from 20 percent during ...
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Article
Here We Go Again: Regulators Looking Anew at Audit Firm Consulting
Image: Title: TurnerRegulators are taking a fresh look at whether the quality of public company audits is threatened when audit firms also focus on selling consulting services. Revenue from audit services has remained flat, while revenue from consulting services is rising again. “They’re driven by the fact that management is ...