PracticeAuditAuditors lose on non-audit

Auditors lose on non-audit

Auditors were paid 19% less in non-audit fees by the companies they audit this year, the Auditing Practices Board has revealed

Non-audit fees, expressed as a percentage of audit fees, decreased from 83%
in 2005 to 69% in 2006, the survey of 62 FTSE companies found.

The trend to award auditors less non-audit work has been familiar to the
profession for some time, but there have been few concrete figures. Companies
including Shell have openly endorsed the move.

KPMG’s Richard Bennison said he was surprised: ‘We find that audit committees
are becoming more confident in using auditors for certain aspects of non-audit
work.’

Related Articles

Is predictive analytics the end of the annual audit?

Audit Is predictive analytics the end of the annual audit?

2d Martin Herron, MHA MacIntyre Hudson
Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

Audit Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

7d Emma Smith, Managing Editor
PCAOB sanctions former Deloitte Turkey CEOs over altered documents

Audit PCAOB sanctions former Deloitte Turkey CEOs over altered documents

2w Alia Shoaib, Reporter
KPMG South Africa to review past audit work amid fresh scandal

Audit KPMG South Africa to review past audit work amid fresh scandal

1m Alia Shoaib, Reporter
FRC introduces £10m sanctions for Big Four firms

Audit FRC introduces £10m sanctions for Big Four firms

1m Alia Shoaib, Reporter
Ukraine’s PrivatBank files $3bn claim against PwC

Audit Ukraine’s PrivatBank files $3bn claim against PwC

2m Alia Shoaib, Reporter
Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

Audit Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

2m Alia Shoaib, Reporter
Big Four dominate FTSE 250 audit market in Q1 rankings

Audit Big Four dominate FTSE 250 audit market in Q1 rankings

3m Alia Shoaib, Reporter