Public companies are exerting some new muscle over their audit costs, finally ending an unprecedented period of open-ended audit bills.
According to a Compliance Week analysis of audit fees for S&P 500 companies with revenues of more than $1 billion, the median increase from 2006 to 2007 was only 3.2 percent. Total fees to auditors—including tax fees, audit-related costs, and other fees—only rose 3.7 percent.
