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Audit fees creep higher in 2016, study shows

Tammy Whitehouse | January 3, 2018

Public company audit fees inched upward again in 2016, based on the latest data available from Audit Analytics.

In the latest installment of its annual study of audit and non-audit fees, Audit Analytics says public companies paid an average of $541 per million dollars of revenue for their mandatory financial statement audit, plus the audit of internal control over financial reporting, where it is required. That’s an increase of about 3.4 percent over the $523 per million in revenue that public companies paid in 2015.

When combining and audit fees with non-audit fees paid to the principal audit firm, the report says companies paid $611 per million in revenue in 2016 compared with $593 per million in 2015.

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