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New GAAP rules drive audit fee increases, poll says

Tammy Whitehouse | December 11, 2018

New accounting standards along with mergers and acquisitions are driving modest increases in audit fees, according to a new survey from the Financial Education & Research Foundation.

In a FERF poll of a variety of organizations, public company respondents said they saw a 2.5 percent median increase in audit fees in 2017. FERF’s poll the year before suggested audit fees rose only by about 1.3 percent. Private companies indicated a little more upward movement in audit fees, reporting a median increase of 3.2 percent.

Nearly half of public companies said their particular movement in audit fees can be attributed to changes in accounting standards, especially Accounting Standards Codification Topic 606 on...

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